Berg, Vincent A. C. van den; Verhoef, Erik T. - 2011 - Version of 13 May 2011
in separate stages, as then firms want to limit the toll competition by setting lower capacities; or when firms set … higher capacities. In our Stackelberg competition, the firms that act last have few if any capacity decisions to influence …. Hence, they are more concerned with the toll-competition substage, and set a higher volume/capacity ratio than sociall y …