In this paper, various equilibria are analyzed according to the leader-follower relationship between vertically integrated incumbents when downstream entries are present. This analysis broadens our understanding of the incentives involved in deciding the wholesale price, which can be applied to...

Four new nationwide entrants were introduced into the Korean mobile telephone industry provoking intense competition among the five carriers by late 1997. Some assert that there is excessive competition and industry restructuring is needed. In this paper, we analyze the profitability of mobile...

In some industries such as telecommunications and electricity, the fixed costs are so high that competition is not sustainable without considering the fixed cost in pricing. The sustainability of competition is as important as enhancing competition when an industry is in the transitional period...