Cournot competitors behave less aggressively than Bertrand competitors because a Cournot firm cannot expect to "steal" customers from a rival whereas a Bertrand firm can.

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In a Cournot competition, firms choose their quantity of output simultaneously, which means that they must take into account how much output their rival is producing. This makes it less likely for a Cournot firm to "steal" customers from its rival, as they are both producing similar quantities. In contrast, in a Bertrand competition, firms choose their price simultaneously, which means that they can undercut their rival's price and potentially attract all of their rival's customers. This makes Bertrand competitors more aggressive in their pricing strategies. In a Cournot model, firms assume that their competitors' output remains fixed and the firms compete on quantity. Therefore, a Cournot firm cannot expect to "steal" customers from a rival, but must instead focus on producing as much as possible while still earning a profit. In contrast, in a Bertrand model, firms assume that their competitors' prices remain fixed and the firms compete on price. This allows for more aggressive competition as a firm can lower their price to attract customers away from a rival.

Cournot Competitors Behave Less Aggressively Than Bertrand Competitors Because a Cournot