Journal
ECONOMICS LETTERS
Volume 219, Issue -, Pages -Publisher
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2022.110804
Keywords
Cournot competition; Bertrand competition; Markups
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In a differentiated products setting with unobserved costs, the Cournot model attributes a larger proportion of prices to markups compared to the Bertrand-Nash model, resulting in lower estimates of marginal costs.
In a differentiated products setting when costs are unobserved, the Cournot model of quantity-setting competition attributes a greater share of prices to markups than does the Bertrand-Nash model of price-setting, leading to lower estimates of marginal costs.(c) 2022 Elsevier B.V. All rights reserved.
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