We use the approach of the reduced Game Property and its converse to characterize the sets of stable and semistable demand vectors. It is shown that although these two concepts are generally very different their axiomatizations are almost the same. Regarding the semistable demand vector we...

This paper deals with a privatized firm facing potential market entry. The firm has inherited excess capacity from its public past. The players have asymmetric costs. Only the entrant must install new capacity, which incurs positive capacity installation costs. The paper considers the subgame...