Strategic entry in a triopoly market of firms with asymmetric cost structures

摘要: Abstract This paper examines the strategic investment timing decision in a triopoly market comprising firms with asymmetric cost structures. We present three novel results. First, case where there are relatively small asymmetries between and first-mover advantage, firm lowest structure is not always first investor. In other cases, Second, an increase volatility increases possibility that without Finally, even three-asymmetric-firm model, we show investor threshold larger than duopoly, although it smaller duopoly monopoly.