Villemeur, Etienne Billette de; Ruble, Richard; … - Groupe d'Analyse et de Théorie Économique Lyon … - 2011
We characterize sequential (preemption) and simultaneous (coordination) equilibria, as well as joint-value maximizing (cooperation) solutions, in a model of investment timing allowing for externalities in both flow pro…ts and investment costs. For two ex-ante symmetric …rms, either...