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