Price war
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A price war is a form of market competition in which companies within an industry engage in aggressive pricing activity "characterized by the repeated cutting of prices below those of competitors". Th
Price wars have been documented in airline markets around the world.
Oligopoly
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An oligopoly is a market in which pricing control lies in the hands of a few sellers.
Price war
…a firm is trying to enter an established market, it may offer lower prices than existing brands to incentivise consumers to switch to their product. Oligopoly: If the industry structure is oligopolistic (that is, has few major competitors), the players will closely monitor each other's prices and be prepared…
Kinked demand