What does the kinked demand curve model of oligopoly predict and what are the models main weakness?

Question

What does the kinked demand curve model of oligopoly predict and what are the models main weakness?

Answer 1

The kinked demand curve predicts that reaction of demand for one of oligopolies members on change in price will not necessarily be the same (or reversed) in both directions due to specific reaction on change in price made by one of members.

One of a weaknesses of this prediction is that it's not explaining well responses to changes in demand (don't confuse with movement along demand curve).