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Preemption and rent equalization in the adoption of new technology: comment

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  • Min-Hung Tsay

    ()
    (Department of International Business, National Taiwan University, Taipei 106, Taiwan.)

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    Abstract

    In this comment, we show that the existence of the preemption equilibrium in Fudenberg and Tirole (Review of Economics Studies, vol. 52, PP. 383-401, 1985)'s continuous-time games of timing is not guaranteed under their assumptions.

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    File URL: http://www.accessecon.com/Pubs/EB/2012/Volume32/EB-12-V32-I2-P161.pdf
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    Bibliographic Info

    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 32 (2012)
    Issue (Month): 2 ()
    Pages: 1680-1686

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    Handle: RePEc:ebl:ecbull:eb-11-00700

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    Related research

    Keywords: Dynamic Entry; Preemption; Rent Equalization; Technology Adoption; Timing Games.;

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    1. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, January.
    2. Michael Ostrovsky & Michael Schwarz, 2005. "Adoption of Standards Under Uncertainty," RAND Journal of Economics, The RAND Corporation, vol. 36(4), pages 816-832, Winter.
    3. Weeds, H., 2000. "Strategic Delay in a Real Optimna Model of R&D Competition," The Warwick Economics Research Paper Series (TWERPS) 576, University of Warwick, Department of Economics.
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