Cato, Susumu; Oki, Ryoko - In: Economic Modelling 28 (2011) 6, pp. 2776-2782
This paper examines the strategic commitment behavior of heterogeneous leaders in an endogenous market structure. We demonstrate that each leader's investment level is independent of the other leaders' characters. Furthermore, we show that a leader over-invests (resp. under-invests) when an...