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| Tekijä: | Head, K. Mayer, T. Ries, J. |
| Otsikko: | Revisiting Oligopolistic Reaction: Are Decisions On Foreign Direct Investment Strategic Complements? |
| Lehti: | Journal of Economics & Management Strategy
2002 : FALL, VOL. 11:3, p. 453-472 |
| Asiasana: | OLIGOPOLY ANALYTICAL REVIEW FOREIGN INVESTMENT STRATEGY INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | Knickerbocker (1973) introduced the notion of oligopolistic reaction to explain why firms follow rivals into foreign markets. The authors develop a model that incorporates central features of Knickerbocker's story- oligopoly, uncertainty, and risk aversion to establish the conditions required to generate follow-the-leader behavior. The authors find that rival foreign investment will make risk-neutral firms less inclined to move abroad once its rivals have done so. The authors show that Knickerbocker's prediction relies on risk aversion and derive an expression for the minimum amount of risk aversion needed to generate oligopolistic reaction. |
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