asymmetry in R&D efficiency between firms is an important factor determining feasibility of the preemption and attrition … scenarios in competitive R&D with time to build. Scenarios of attrition and preemption games are most likely to occur when … competitors have similar R&D efficiencies. In case of largely asymmetric firms the games of attrition and preemption are very …

, where firms compete to enter a new market. We show that preemption can substantially reduce the negative effects of credit …