In Section 2, we discuss the set-up in which two rival firms choose capital and output for a market characterised by demand uncertainty. In Section 3, the investment-timing pattern that emerges with “action commitment” is compared to the investment timing with “observable delay”. In Section...
Oligopolies are a type of market structure evident in Australia, which is comprised of 2 or more firms having a significant share of the market. In an oligopoly the few firms sell similar but differentiated or homogenous products and is characterised by a large number of buyers making it a fo...
We consider the situation where the supply and distribution of particular consumer goods are controlled by a very limited number of powerful parties at successive stages of the supply chain; characterised by a tight oligopoly existing in both manufacturing and retailing these goods. We assume that ea...