haku: @author Bulow, J. / yhteensä: 4
viite: 2 / 4
| Tekijä: | Bulow, J. Klemperer, P. |
| Otsikko: | The generalized war of attrition |
| Lehti: | American Economic Review
1999 : MAR, VOL. 89:1, p. 175-189 |
| Asiasana: | ECONOMICS MODELS COMPANIES |
| Kieli: | eng |
| Tiivistelmä: | The authors model a war attrition with N + K firms competing for N prizes. In a "natural oligopoly" context, the K - 1 lowest-value firms drop out instantaneously, even though each firm's value is private information to itself. In a "standard setting" context, in which every competitor suffers losses until a standard is chosen, even after giving up on its own preferred alternative, each firm's exit time is independent both of K and of other players' actions. |
SCIMA