In this paper. we provide a welfare ranking for the equilibria of the supply function and quantity competitions in a differentiated product duopoly with demand uncertainty. We prove that the expected consumer surplus is always higher under the supply function competition. irrespective of whether the (duopolistic) products are substitutes. https://www.foldlyers.shop/product-category/microwaves/
Ranking Supply Function and Cournot Equilibria in a Differentiated Product Duopoly with Demand Uncertainty
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