requires a commitment for a period of uncertain duration, restricting the firm in subsequent periods. Capacity constraints … create a “fear of commitment” — some positive return projects are not adopted. In the sequential move dynamic game, the … informed. We study the e§ects of competition on the fear of commitment, and compare the jointly optimal adoption decision to …

requires a commitment for a period of uncertain duration, restricting the firm in subsequent periods. Capacity constraints … create a “fear of commitment” — some positive return projects are not adopted. In the sequential move dynamic game, the … informed. We study the e§ects of competition on the fear of commitment, and compare the jointly optimal adoption decision to …

traditional media. Disaggregated content also increases the relevance of targeting for advertisers. But at the same time, search … effects of search technology and aggregators in digital media markets. A simple model shows how these institutions can alter …

search frictions. We consider a homogeneous population where each agent, in every period, has a choice between specializing … partners. They may be found in a decentralized search market, but search takes time. Merchants set up trading posts where they … merchant's trading post must be discovered through search, producers who are informed of the location of a trading post have …