setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …

We study a market in which both buyers and sellers can decide to preempt and set theirquantities before market clearing …. Will this lead to preemption on both sides of the market,only one side of the market, or to no preemption at all? We …nd … that preemption tends to beasymmetric in the sense that it is restricted to only one side of the market (buyers or sellers). …