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preemption pattern, and episodes in which firms invest simultaneously, a tacit collusion pattern. These episodes may alternate … preemption episode: firms invest at different times but have equal value. The first such investment may occur earlier and …
Persistent link: https://www.econbiz.de/10009350695
, les firmes ont un comportement de préemption, si bien que le premier investissement en capacité se produit plus tôt, et …
Persistent link: https://www.econbiz.de/10005100881
We study a simple duopoly model of preemption with multiple investments and instantaneous Bertrand competition in a … instantaneous Bertrand competition. This casts some doubts on the robustness of one-shot models of preemption. Dans cet article …, nous étudions un modèle (duopole) de préemption avec investissements multiples et concurrence instantanée à la Bertrand …
Persistent link: https://www.econbiz.de/10005100883
preemption equilibrium with the first industry investment occurring earlier (hence being riskier) than socially optimal. Once … ce contexte. Initialement, le seul équilibre Markovien parfait (ÉMP) est un équilibre de préemption dans lequel le …
Persistent link: https://www.econbiz.de/10005100992
This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence about injurers' behavior is imperfect and rests with the parties. We show that the `preponderance of evidence' standard used in common law, together with ordinary exclusion...
Persistent link: https://www.econbiz.de/10005100970
Focusing on cooperation and coordination, we compare the security policies of Europe's Schengen Agreement and the Canada-U.S. Smart Border Accord. To do so, we argue that national security is a public good and its production should be analyzed in a strategic context. We show that efficient...
Persistent link: https://www.econbiz.de/10008694191
deterrence policy and instead invest all its resources in its own national protection or even choose to ignore totally terrorism …The World Trade Center attack has shed light on the urgent need to implement preventing measures against terrorism and … explain failure in coordination is that collective actions against terrorism may suffer from the well known free riding …
Persistent link: https://www.econbiz.de/10008559320
We offer a definition of iterated elimination of strictly dominated strategies (IESDS) for games with (in)finite players, (non)compact strategy sets, and (dis)continuous payoff functions. IESDS is always a well-defined order independent procedure that can be used to solve Nash equilibrium in...
Persistent link: https://www.econbiz.de/10005100699
Two auctions have been proposed in the literature for siting noxious facilities: the high-bid and the low-bid auctions. In this paper, we pursue the analysis of these auctions made by O'Sullivan [1993], where he concludes that the high-bid auction has the edge over the low-bid auction. We point...
Persistent link: https://www.econbiz.de/10005417553