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Zoekopdracht: faculteit: "FEB" en publicatiejaar: "2009"

AuteursJ. Hinloopen, J. Vandekerckhove
TitelDynamic efficiency of Cournot and Bertrand competition: input versus output spillovers
TijdschriftJournal of Economics
Jaargang98
Jaar2009
Nummer2
Pagina's119-136
ISSN03616576
FaculteitFaculteit Economie en Bedrijfskunde
Instituut/afd.FEB: Research Institute in Economics and Econometrics Amsterdam (RESAM)
SamenvattingWe consider the efficiency of Cournot and Bertrand equilibria in a duopoly with substitutable goods where firms invest in process R&D that generates input spillovers. Under Cournot competition firms always invest more in R&D than under Bertrand competition. More importantly, Cournot competition yields lower prices than Bertrand competition when the R&D production process is efficient, when spillovers are substantial, and when goods are not too differentiated. The range of cases for which total surplus under Cournot competition exceeds that under Bertrand competition is even larger as competition over quantities always yields the largest producers’ surplus. Keywords Bertrand competition - Cournot competition - Process R&D - Efficiency - Spillovers JEL Classification L13
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