City Research Online

Abstract

This paper examines the effect of demand uncertainty on the properties of the first period contract between a lender and the incumbent, when there is a threat of entry. The main findings are that unlike the cost uncertainty case, entry has no effect on the incumbent's incentives and it leads the lender to learn less.

Publication Type:	Article
Additional Information:	Published in Economics Bulletin 2009
Subjects:	H Social Sciences > HB Economic Theory
Departments:	School of Policy & Global Affairs > Economics
SWORD Depositor:	Symplectic Administrator

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