摘要：This study compares a di.erentiated Cournot duopoly with a two-product monopoly byusing the socially optimal solution as a reference point. Each solution is allowedto be either aninterior or a corner solution. We establish that the ranking regarding each individual price isclear-cut and normal. In contrast, every one of the rankings regarding individual outputs andindustry output can go either way. More importantly, the duopoly may be less welfare-e.cientthan the monopoly. For example, when demands are linear, lower welfare is achieved if theasymmetry between firms is strong enough. One reason is that when firms are asymmetric, theoutput structure in the duopoly is distorted with probability one, whereas the output structure inthe monopoly is generally socially optima
