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Market Niche, Flexibility And Commitment

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  • SUREN BASOV
  • VLADIMIR SMIRNOV
  • ANDREW WAIT

Abstract

We study a market-entry game in which the potential entrants wish to coordinate their actions (i.e. enter different market segments rather than compete directly). If (i) the firms have an option to wait, and (ii) each firm has a different reaction time after they have decided to wait, the unique outcome that survives the iterated elimination of weakly dominated strategies favors the less flexible firms. Copyright © 2007 The Authors; Journal compilation © 2007 Blackwell Publishing Ltd and The University of Manchester.

Suggested Citation

  • Suren Basov & Vladimir Smirnov & Andrew Wait, 2007. "Market Niche, Flexibility And Commitment," Manchester School, University of Manchester, vol. 75(1), pages 122-130, January.
  • Handle: RePEc:bla:manchs:v:75:y:2007:i:1:p:122-130
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9957.2007.01006.x
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    Cited by:

    1. Suren Basov & Jan Libich & Petr Stehlík, 2010. "Stochastic Timing, Uniqueness, and Efficiency in Games," Working Papers 2010.01, School of Economics, La Trobe University.

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