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A Dynamic Duopoly Investment Game without Commitment under Uncertain Market Expansion
Boyer, Marcel; Lasserre, Pierre; Moreaux, Michel - Centre Interuniversitaire de Recherche en Analyse des … - 2011
We model capacity-building investments in a homogeneous product duopoly facing uncertain demand growth. Capacity building is achieved through the addition of production units that are durable and lumpy and whose cost is irreversible. While building their capacity over time, firms compete à la...
Persistent link: https://www.econbiz.de/10009350695
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Real Options, Preemption, and the Dynamics of Industry Investments
Boyer, Marcel; Lasserre, Pierre; Mariotti, Thomas; … - Centre Interuniversitaire de Recherche en Analyse des … - 2001
We study the development of a duopoly industry -evolution of firm capacities and competitive behavior- in a continuous-time real-options model of capacity investment. Our methodology allows the evaluation of investment options and exercise rules in a strategic setup. In the initial industry...
Persistent link: https://www.econbiz.de/10005100881
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Preemption and Rent Dissipation with Multiple Investments
Boyer, Marcel; Lasserre, Pierre; Mariotti, Thomas; … - Centre Interuniversitaire de Recherche en Analyse des … - 2000
We study a simple duopoly model of preemption with multiple investments and instantaneous Bertrand competition in a stochastically growing market. Different patterns of equilibria may arise, depending on the importance of the real option effect. If the average growth rate of the market is close...
Persistent link: https://www.econbiz.de/10005100883
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The Dynamics of Industry Investments
Boyer, Marcel; Lasserre, Pierre; Moreaux, Michel - Centre Interuniversitaire de Recherche en Analyse des … - 2007
We study the development of a duopoly in a continuous-time model of capacity investment under no commitment by firms regarding future actions. While capacity units are costly, indivisible, durable, and large relative to market size, early entry cannot secure a first-mover advantage and both...
Persistent link: https://www.econbiz.de/10005100992
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Local Interactions
Özgür, Onur - Centre Interuniversitaire de Recherche en Analyse des … - 2010
Local interactions refer to social and economic phenomena where individuals' choices are influenced by the choices of others who are `close' to them socially or geographically. This represents a fairly accurate picture of human experience. Furthermore, since local interactions imply particular...
Persistent link: https://www.econbiz.de/10008591372
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A Simple Test of Learning Theory
Engle-Warnick, Jim; Hopkins, Ed - Centre Interuniversitaire de Recherche en Analyse des … - 2006
ran each game in high and low payoff treatments. We find that, in all treatments, average play is close to equilibrium …
Persistent link: https://www.econbiz.de/10005101118
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Iterated Strict Dominance in General Games
Chen, Yi-Chun; Long, Ngo Van; Luo, Xiao - Centre Interuniversitaire de Recherche en Analyse des … - 2007
)finite players, (non)compact strategy sets, and (dis)continuous payoff functions. IESDS is always a well-defined order independent …
Persistent link: https://www.econbiz.de/10005100699
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Education and Smoking: Were Vietnam War Draft Avoiders Also More Likely to Avoid Smoking?
Grimard, Franque; Parent, Daniel - Centre Interuniversitaire de Recherche en Analyse des … - 2003
infer causation from education to smoking and find strong evidence that education, whether it be measured in years of …, more particularly the probability of smoking regularly. Interestingly, however, while we find that more education … substantially increases the probability of never smoking, our other main finding is suggestive that increased education has a …
Persistent link: https://www.econbiz.de/10005100687
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Labour Market Outcomes and Schooling in Canada: Has the Value of a High School Degree Changed over Time?
Parent, Daniel - Centre Interuniversitaire de Recherche en Analyse des … - 1999
individuals with low levels of education, and to situate it in the context of the evolution in the value of a high school diploma … over the 1981-1996 period, conditional on not pursuing post-secondary education. To do so I make use of Statistics Canada … whether the value of holding a high school diploma (excluding the option value of pursuing post-secondary education) has …
Persistent link: https://www.econbiz.de/10005100720
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Transition vers le marché du travail au Canada : Portrait de la situation actuelle et perspective historique
Parent, Daniel - Centre Interuniversitaire de Recherche en Analyse des … - 1999
individuals with low levels of education, and to situate it in the context of the evolution in the value of a high school diploma … over the 1981-1996 period, conditional on not pursuing post-secondary education. To do so I make use of Statistics Canada … whether the value of holding a high school diploma (excluding the option value of pursuing post-secondary education) has …
Persistent link: https://www.econbiz.de/10005100776