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Second-Mover Advantages in Dynamic Quality Competition

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Author Info
Heidrun C. Hoppe
Ulrich Lehmann-Grube

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Abstract

This paper explores a dynamic model of product innovation, extending the work of Dutta, Lach, and Rustichini (1995). It is shown that if 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. Moreover, the second-mover advantage increases monotonically as R&D becomes more costly. Copyright (c) 2001 Massachusetts Institute of Technology.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 10 (2001)
Issue (Month): 3 (09)
Pages: 419-433
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Handle: RePEc:bla:jemstr:v:10:y:2001:i:3:p:419-433

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  1. Ruslan Lukach & Peter M. Kort & Joseph Plasmans, 2007. "Strategic R&D with Knowledge Spillovers and Endogenous Time to Complete," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
    Other versions:
  2. Eric Rasmusen & Young-Ro Yoon, 2007. "First versus Second-Mover Advantage with Information Asymmetry about the Size of New Markets," Caepr Working Papers 2007-017, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington. [Downloadable!]
  3. Luca Lambertini & Piero Tedeschi, 2006. "Would you like to enter first with a low-quality good?," Working Papers 20060504, Università degli Studi di Milano-Bicocca, Dipartimento di Statistica. [Downloadable!]
    Other versions:
  4. Ralph Siebert, 2003. "The Introduction of New Product Qualities by Incumbent Firms: Market Proliferation versus Cannibalization," CIG Working Papers SP II 2003-11, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
  5. Tobias Kretschmer & Katrin Muehlfeld, 2006. "Co-Opetition and Prelaunch in Standard-Setting for Developing Technologies," CEP Discussion Papers dp0742, Centre for Economic Performance, LSE. [Downloadable!]
  6. Ralph Siebert, 1999. "The Impact of R&D Subsidies on the Introduction of New Products by Incumbent Firms
    old title -(New Product Introduction by Incumbent Firms)    ," CIG Working Papers FS IV 99-19, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG), revised Aug 2003. [Downloadable!]
  7. Zhiyong Liu, 2005. "Stackelberg leadership with demand uncertainty," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 26(5), pages 345-350. [Downloadable!]
  8. Abagail McWilliams & Donald S. Siegel & Patrick M. Wright, 2005. "Corporate Social Responsibility: Strategic Implications," Rensselaer Working Papers in Economics 0506, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
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  9. Siebert, Ralph, 2003. "The Impact of R&D Subsidies on the Introduction of New Products by Incumbent Firms," CEPR Discussion Papers 4090, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  10. Donald S. Siegel & Donald F. Vitaliano, 2006. "An Empirical Analysis of the Strategic Use of Corporate Social Responsibility," Rensselaer Working Papers in Economics 0602, Rensselaer Polytechnic Institute, Department of Economics. [Downloadable!]
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  11. Ralph Siebert, 1999. "Credible Vertical Preemption," CIG Working Papers FS IV 99-20, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG), revised Jul 2003. [Downloadable!]
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