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Competition, timing of entry and welfare in a preemption game

Listed author(s):
  • Argenziano, Rossella
  • Schmidt-Dengler, Philipp

We show that in a preemption game of entry into a Cournot market, increasing the number of competitors beyond duopoly does not bring forward the time of first entry. We also show that all entries, except the first one, occur earlier than socially optimal.

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File URL: http://www.sciencedirect.com/science/article/pii/S0165176513002917
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 120 (2013)
Issue (Month): 3 ()
Pages: 509-512

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Handle: RePEc:eee:ecolet:v:120:y:2013:i:3:p:509-512
DOI: 10.1016/j.econlet.2013.06.009
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Simon, Leo K & Stinchcombe, Maxwell B, 1989. "Extensive Form Games in Continuous Time: Pure Strategies," Econometrica, Econometric Society, vol. 57(5), pages 1171-1214, September.
  2. Katz, Michael L & Shapiro, Carl, 1987. "R&D Rivalry with Licensing or Imitation," American Economic Review, American Economic Association, vol. 77(3), pages 402-420, June.
  3. Drew Fudenberg & Jean Tirole, 1985. "Preemption and Rent Equalization in the Adoption of New Technology," Review of Economic Studies, Oxford University Press, vol. 52(3), pages 383-401.
  4. Rossella Argenziano & Philipp Schmidt-Dengler, 2014. "Clustering In N-Player Preemption Games," Journal of the European Economic Association, European Economic Association, vol. 12(2), pages 368-396, 04.
  5. Mills, David E, 1991. "Untimely Entry," Journal of Industrial Economics, Wiley Blackwell, vol. 39(6), pages 659-670, December.
  6. Corchón, Luis C., 2008. "Welfare losses under Cournot competition," International Journal of Industrial Organization, Elsevier, vol. 26(5), pages 1120-1131, September.
  7. Argenziano, Rossella & Schmidt-Dengler, Philipp, 2012. "Inefficient entry order in preemption games," Journal of Mathematical Economics, Elsevier, vol. 48(6), pages 445-460.
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