The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Preemption and Rent Equalization in the Adoption of New Technology
Abstract
We study the adoption of a new technology to illustrate the effects of preemption in games of timing. We show that the threat of preemption equalizes rents in a duopoly, but that this result does not extend to the general oligopoly game. If the gain to preemption is sufficiently small, then the optimal symmetric outcome, which involves “late” adoption, is an equilibrium. This contrasts with Reinganum's result that in precommitment equilibria there must be “diffusion”. We develop a new and richer formalism for modeling games of timing, which permits a continuous-time representation of the limit of discrete-time mixed-strategy equilibria.
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Citations
Cites
Rational cooperation in the finitely repeated prisoners' dilemma
Kreps, D. M., Milgrom, P., Roberts, J., & Wilson, R. (1982) · Journal of Economic Theory · doi:10.1016/0022-0531(82)90029-1 · Cited by 2,494
Subjectivity and Correlation in Randomized Strategies
Aumann, R. J. (1974) · Journal of Mathematical Economics · doi:10.1016/0304-4068(74)90037-8 · Cited by 1,630
Metadata
- Authors
- Fudenberg, D., & Tirole, J.
- Venue
- The Review of Economic Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1985-07
- Volume
- 52
- Issue
- 3
- Pages
- 383
- ISSN
- 0034-6527 (ISSN-L)
- OpenAlex
- W2049095227
- Cited by
- 909
- References
- 2
- FWCI
- 7.71
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
