Despite descriptive empirical evidence on start-up numbers and survival rates of young firms, the interaction of market entry decisions and reactions of incumbent competitors is still insufficiently understood in the entrepreneurship literature. Repeated games offer a suitable theoretical...

We examine a generic three-stage game for two players with alternating moves, where the first player can choose the level of adjustment cost to be paid in the last period to modify the action she announced in the first period. In the resulting continuum of commitment options, convexifying the...

This paper examines the product positioning decisions of firms that enter a market sequentially and that have potentially different cost structures. It shows that if the first mover knows the second mover to have a lower production cost, it positions away from the most attractive location in the...

In general most nature-based recreational goods and benefits are considered positive externalities of production, as they are usually not subject to trade. So far, a low degree of rivalry among most user groups and legally defined rights has secured these benefits as almost a public good. Yet,...