本文在產品創新的脈絡中探討Cournot 競爭優於Bertrand 競爭的可能性。研究發現，競爭強度與創新意願並非單調相關，Cournot 競爭下的社會福利與消費者剩餘都可能高於Bertrand 競爭，而產業利潤反而可能較低。除刻劃研究結果成立的條件，本文也對研究結果的成因提出新的洞見。

We examine the possible superiority of Cournot versus Bertrand competition in the context of product innovations. We show a nonmonotone relation between the intensity of competition and incentives for innovations, and find conditions under which both consumer surplus and social welfare are higher under Cournot competition, whereas industry profits may be lower. Regarding the forces behind the result that social welfare is higher under Cournot competition, we also present new insights.