Which model, the Cournot or the Bertrand model, would you think provides a better first approximation to

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Which model, the Cournot or the Bertrand model, would you think provides a better first approximation to each of the following industries / markets: the oil refining industry, farmer markets, cleaning services. Discuss!

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Industrial Organization Markets and Strategies

ISBN: 978-1107069978

2nd edition

Authors: Paul Belleflamme, Martin Peitz

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Question Posted: Jan 04, 2023 10:06 AM

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Which model, the Cournot or the Bertrand model, would you think provides a better first approximation to

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The Cournot model and the Bertrand model are two different approaches to modeling competition in a market The Cournot model is based on the assumption ...View the full answer

Industrial Organization Markets and Strategies

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