Bertrand-Cournot profit reversal in a vertical structure with cross ownership
研究在两层产业中，当存在被动交叉所有权时，伯特兰竞争与古诺竞争下的利润反转现象，为理解企业所有权结构对市场竞争的影响提供新视角。
We provide a new reason for Bertrand-Cournot profit reversal. In a two-tier industry with a profit-maximising input supplier and symmetric final good producers, we show that the profit reversal occurs under passive cross ownership among firms.