In a study comparing Cournot and Bertrand competition in a market where companies sell slightly different products, researchers found that whether it's better to set prices (Cournot) or compete on prices (Bertrand) depends on factors like the power of labor unions and the degree of product differentiation. Generally, Cournot yields higher profits unless the unions are strong and value wage bargaining a lot. Essentially, the choice between Cournot and Bertrand strategies for firms in a differentiated market is influenced by how powerful unions are and how important wages are in their decision-making.