Karagözoğlu, Emin; Keskin, Kerim; Sağlam, Hüseyin … - 2020
We introduce a model of product development in a firm. Our model describes the process as a multi-stage contest (i ….e., race) with an endogenous length (with one stage or two stages) between two workers. We model the payments to workers from … the new product using the normatively appealing Nash bargaining solution (see Nash, 1950). In our model the disagreement …