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| Author: | Hughes, J. |
| Title: | Oligopoly, financial structure and resolution of uncertainty |
| Journal: | Journal of Economics and Management Strategy
1998 : SPRING, VOL. 7:1, p. 67-88 |
| Index terms: | OLIGOPOLY FINANCIAL STRUCTURE UNCERTAINTY |
| Language: | eng |
| Abstract: | The authors of the present paper characterize equilibria of a multistage game in which competing duopolists may acquire and share information in advance of choosing their financial structure which, in turn, precedes production. Given sufficient uncertainty, equilibria exist in which the efficiency and, possibly, coordination gains to acquiring and sharing perfect information are sufficient to break Brander and Lewis's result wherein both firms issue debt to their mutual disadvantage. |
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