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Competitive StrategyOptions and Games$
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Benoît Chevalier-Roignant and Lenos Trigeorgis

Print publication date: 2011

Print ISBN-13: 9780262015998

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015998.001.0001

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Market Structure Games: Dynamic Approaches

Market Structure Games: Dynamic Approaches

(p.109) 4 Market Structure Games: Dynamic Approaches
Competitive Strategy

Benoît Chevalier-Roignant

Lenos Trigeorgis

The MIT Press

This chapter extends the discussion began in Chapter 3 about dynamic models of oligopoly. It discusses two streams of models dealing with multiplayer decision-making in multistage settings. The chapter is organized as follows. Section 4.1 discusses the concept of commitment and how limiting one’s own flexibility might create strategic value for the committing firm, thus contradicting standard real options thinking that suggests that flexibility is always of value. Section 4.2 considers situations when firms may find it beneficial to cooperate with their rivals and have no long-term incentive to “cheat” on them.

Keywords:   dynamic models, oligopoly, multiplayer decision-making, commitment, cooperation

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