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Entrepreneurial and Small Business Operations

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Brigham Young University

2011

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Understanding Entrepreneurial Opportunity Via Differentiated Bertrand Oligopoly Market Structure, Colton Hicks Aug 2011

Understanding Entrepreneurial Opportunity Via Differentiated Bertrand Oligopoly Market Structure, Colton Hicks

Student Works

In this paper we develop a method to be able to recognize opportunity for a new entrant in a Bertrand Oligopoly market based upon industrial organization. We infer from the demand curves of competitors if opportunity for a new entrant exists and the necessary characteristics of the entrant that would make it successful in a given market. This provides a significant contribution to the field of entrepreneurship since it has struggled to find a bona fide way to define and identify opportunity. Most research on entrepreneurial opportunity has focused on the characteristics of the product being developed, e.g., what are …