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| Author: | Hoppe, H. C. Lehmann-Grube, U. |
| Title: | Second-mover advantages in dynamic quality competition |
| Journal: | Journal of Economics and Management Strategy
2001 : FALL, VOL. 10:3, p. 419-433 |
| Index terms: | COMPETITION QUALITY R&D |
| Language: | eng |
| Abstract: | This paper explores a dynamic model of product innovation, extending the work of Dutta, Lach, and Rustichini (1995). It is shown that is R&D costs for quality improvements are low, the dynamic competition is structured as a race for being the pioneer firm with payoff equalization in equilibrium, but switches to a waiting game with a second-mover advantage in equilibrium if R&D costs are high. |
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