Consider an oligopolistic industry where demand uncertainty resolves after at least one firm has engaged in production. Those firms who produce first behave as simultaneous leaders (co-leaders), whilst those who produce after demand becomes observable will be followers. Each follower simply...

Advance production served as a means of quantity commitment. This paper shows that the pre-emption acts as strategic substitutes between oligopolists. We also show that a firm's incentive for advance production arises only if it has a quantity-setting opponent, irrespective of the firm's own...