search query: @author McCardle, K. F. / total: 5
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| Author: | Mamer, J. W. McCardle, K. F. |
| Title: | Uncertainty, competition, and the adoption of new technology. |
| Journal: | Management Science
1987 : FEB, VOL. 33:2, p. 161-177 |
| Index terms: | TECHNOLOGICAL INNOVATION CORPORATE STRATEGY GAME THEORY |
| Language: | eng |
| Abstract: | Faced with the decision whether or not adopt a new technology whose economic value cannot be gauged with certainty, the manager may decrease the uncertainty by sequentially gathering information /at a unit cost of c more than 0/, updating his prior beliefs in a Bayesian manner. Uncertainty regarding the actions of a competitor, however, cannot be reduced. The model proposed allows a manager to account for potential competition, either substitute or complementary, by inclusion of strategic considerations modelled in a game theoretic setting. |
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