Search results for "Endogenous Timing"

showing 3 items of 3 documents

ENDOGENOUS TIMING WITH FREE ENTRY

2006

A free entry model with linear costs is considered where firms first choose their entry time and then compete in the market according to the resulting timing decisions. Multiple equilibria arise allowing for infinitely many industry output configurations encompassing one limit-output dominant firm and the Cournot equilibrium with free entry as extreme cases. Sequential entry is never observed. Both Stackelberg and Cournot-like outcomes are sustainable as equilibria however. When the number of incumbents is given, entry is always prevented, and industry output is sometimes larger than the entry preventing level.

Entry preventionEntry timeCournot competitionSettore SECS-P/06 - Economia ApplicataMarket leadershipjel:L11Microeconomicsfree entry market leadership entry preventionFree entryjel:L13EconomicsStackelberg competitionmedicineFree entrymedicine.symptomEndogenous Timing Entry PreemptionIndustrial organization
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Endogenous timing with infinitely many firms

2008

Abstract A model with constant marginal costs is considered where firms choose first a period for production and then the amount to produce when competing in the market according to the resulting timing decisions. Multiple equilibria arise allowing for infinitely many industry output configurations encompassing one limit-output dominant firm and the Cournot equilibrium with free entry as extreme cases. At each of these equilibria a firm produces a positive amount only if this firm commits to produce at period one. Both Stackelberg and Cournot-like outcomes are sustainable as equilibria however. When the number of leaders is given, production at subsequent periods is always prevented, and in…

Marginal costEconomics and EconometricsStrategy and ManagementEconomics Econometrics and Finance (miscellaneous)entry preemptionCournot competitionMicroeconomicsIndustrial relationsmedicineEconomicsStackelberg competitionProduction (economics)Free entrymedicine.symptomConstant (mathematics)endogenous timing
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Endogenous R&D Symmetry in Linear Duopoly with One-way Spillovers

2005

A duopoly model of cost reducing R&D-Cournot market competition is extended to encompass endogenous timing of R&D investments. Under the assumption that R&D spillovers are zero under simultaneous choices of R&D and only flow from the R&D leader to the follower under sequential choices, sequential and simultaneous play at the R&D stage are compared in order to assess the role of technological externalities in stimulating or attenuating endogenous firm asymmetry. The only timing structure of the R&D stage sustainable as subgame–perfect Nash equilibrium involves simultaneous play and thus zero spillovers.

Organizational Behavior and Human Resource ManagementEconomics and EconometricsStackelberg equilibriumEndogenous timingmedia_common.quotation_subjectjel:D43Settore SECS-P/06 - Economia ApplicataAsymmetryCompetition (economics)Microeconomicssymbols.namesakeStrategic investmentR&D with spillovers Firm AsymmetryStackelberg competitionEconomicsDuopolymedia_commonjel:C72Endogenous symmetryendogenous symmetry endogenous timing Stackelberg equilibriumjel:L11Nash equilibriumjel:L13symbolsendogenous timing stackelberg equilibriumSymmetry (geometry)Mathematical economicsSSRN Electronic Journal
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