an experiment based on two-stage games, where R&D investment choices are followed by product market competition. An … is beneÞcial for investments. -- R&D investment ; intensity of competition ; experiment …

on own effort and negatively on the effort of competitors. Such auctions arise naturally in the context of investment … the strategic situation of a two-stage game with investment preceding homogenous Bertrand competition. We obtain … overinvestment both relative to the mixed-strategy equilibrium and the social optimum. -- All-pay auctions ; oligopoly ; investment …

carry out experiments based on two-stage games, where R&D investment choices are followed by product market competition. As …&D investment ; intensity of competition ; experiment …

We argue that, in a simple setting, the relation between the intensity of competition and cost-reducing investment is U … show that, except for firms that are much less efficient than the competitor, investment in the subgame-perfect equilibrium … leaders. Also consistent with predictions, the relation is negative for firms that are lagging behind. -- Investment …

carry out experiments for two-stage games, where R&D investment choices are followed by product market competition. As … implemented and in treatments in which only one stage is implemented. -- R&D investment ; intensity of competition ; experiment …