In the text, we consider a sequential-move
game in which an entrant was considering entering an industry in
competition with an incumbent firm (See Figure 15-1). Consider now that
the entrant, if fought, has the possibility of withdrawing from the
industry (at a loss of 1 for the entrant and a gain of 8 for the
incumbent), or staying at a loss of 5 for each player). What is the
equilibrium of this game? Discuss if the entrant is better off with or
without the ability to withdraw.I have added a diagram of the game to help you see the options.Be sure to cite all source used.PLEASE DO NOT RELY ON WIKIPEDIA, INVESTOPEDIA OR ANY OTHER PEDIA AS A REFERENCE AT ANYTIME
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