| Tekijä: | Harris, C. Vickers, J. |
| Otsikko: | Racing with uncertainty. |
| Lehti: | Review of Economic Studies
1987 : JAN, VOL. 54:177, p. 1-21 |
| Asiasana: | TECHNOLOGY COMPETITION UNCERTAINTY |
| Kieli: | eng |
| Tiivistelmä: | Two models of races are represented in which there is both technological uncertainty and strategic interaction between competitors as the race unfolds. Most of the existing literature examines one or other of these features,but not the two combined. It is aimed to see how the efforts of competitors in a race vary with the intensity of rivalry between them. In the principal model, which is of a one-dimensional race,it is shown that the leader in the race makes greater efforts than the follower and efforts increase as the gap between competitors decreases. Under certain conditions the results hold in the model of a two-dimensional race. |
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