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You have a really good start, but I do disagree that the incumbent has any more control of the game than the entrant. Just as
You have a really good start, but I do disagree that the incumbent has any more control of the game than the entrant. Just as the entrant has to make the decision to enter or note enter, the incumbent must make a choice, accommodate or do fight. Making no decision is the decision to accommodate. The incumbent must play at his/her turn.
Now the rational incumbent will accommodate. Why?
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