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Experimentation and learning with networks effects

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  • Fishman, Arthur
  • Gandal, Neil

Abstract

Abtract: This paper considers learning in an imperfectly competitive setting. By allowing an opponent a ``head start," unsuccessful unilateral experimentation may jeopardize future sales and profits. We show that even in the absence of spillover and signalling effects, competition can inhibit the scope of learning, relative to a monopoly.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 44 (1994)
Issue (Month): 1-2 ()
Pages: 103-108

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Handle: RePEc:eee:ecolet:v:44:y:1994:i:1-2:p:103-108

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  1. Mirman, Leonard J & Samuelson, Larry & Urbano, Amparo, 1993. "Monopoly Experimentation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(3), pages 549-63, August.
  2. Mirman Leonard J. & Samuelson Larry & Schlee Edward E., 1994. "Strategic Information Manipulation in Duopolies," Journal of Economic Theory, Elsevier, vol. 62(2), pages 363-384, April.
  3. Rothschild, Michael, 1974. "A two-armed bandit theory of market pricing," Journal of Economic Theory, Elsevier, vol. 9(2), pages 185-202, October.
  4. McLennan, Andrew, 1984. "Price dispersion and incomplete learning in the long run," Journal of Economic Dynamics and Control, Elsevier, vol. 7(3), pages 331-347, September.
  5. Jullien Bruno & Aghion Philippe & Paz Espinoza M, 1990. "Dynamic duopoly with learning through market experimentation," CEPREMAP Working Papers (Couverture Orange) 9012, CEPREMAP.
  6. Diamond, Peter A., 1971. "A model of price adjustment," Journal of Economic Theory, Elsevier, vol. 3(2), pages 156-168, June.
  7. Rob, Rafael, 1991. "Learning and Capacity Expansion under Demand Uncertainty," Review of Economic Studies, Wiley Blackwell, vol. 58(4), pages 655-75, July.
  8. Creane, Anthony, 1994. "Experimentation with Heteroskedastic Noise," Economic Theory, Springer, vol. 4(2), pages 275-86, March.
  9. Katz, Michael L & Shapiro, Carl, 1986. "Technology Adoption in the Presence of Network Externalities," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 822-41, August.
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Cited by:
  1. Christos Koulovatianos, & Leonard J. Mirman & Marc Santugini, . "Optimal Growth and Uncertainty: Learning," Discussion Papers 08/08, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
  2. Christos Koulovatianos & Leonard J. Mirman & Marc Santugini, 2006. "Investment in a Monopoly with Bayesian Learning," Vienna Economics Papers 0603, University of Vienna, Department of Economics.
  3. Leonard J. Mirman & Marc Santugini, 2012. "Learning and Technology Progress in Dynamic Games," Cahiers de recherche 1217, CIRPEE.
  4. Gregory N. Price, 1995. "Consumer Discrimination, Duopoly, and Black Firm Entry: The Welfare Effect of Subsidies," Industrial Organization 9505001, EconWPA.
  5. Leonard J. Mirman & Kevin Reffett & Marc Santugini, 2013. "On Learning and Growth," Cahiers de recherche 1336, CIRPEE.

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