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| Author: | Amaldoss, W. Jain, S. |
| Title: | David vs. Goliath: an analysis of asymmetric mixed-strategy games and experimental evidence |
| Journal: | Management Science
2002 : AUG, VOL. 48:8, p. 972-991 |
| Index terms: | Competitive strategy Decision analysis Learning Marketing R&D |
| Language: | eng |
| Abstract: | Mixed strategies are largely used to model strategic situations in diverse fields, e.g. economics, marketing and political science. However, some of the implications of asymmetric mixed-strategy solutions are counterintuitive. The authors develop a stylized model of patent race to examine some of these implications. In the model two companies compete to develop a product and obtain a patent. However, one company values the patent more because of its market advantages, such and brand reputation and distribution network. The authors find that the company that values the patent less is likely to invest more aggressively in developing the product and will also win the patent more often. |
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