The paper demonstrates that, even when firms' initial moves are simultaneous, the mere opportunity to wait out the opponent's move may be as harmful as a secondmover disadvantage.

This paper examines the nature of first mover advantages on spatially-differentiated surface transportation networks. The literature on first mover advantages identifies a number of sources that explain their existence. However whether those sources exist on spatial networks, and how they play...

Why has the EU been so eager to continue the climate negotiations? Can it be solely attributed to the <p> EU feeling morally obliged to be the main initiator of continued progress on the climate change <p> negotiations, or can industrial interests in the EU, at least partly, explain the behaviour of...</p></p>

We take a class of games with two players and two actions which only have mixed strategy Nash equilibria. We show that such games can only have hybrid equilibria if played sequentially with one player moving first. The hybrid equilibrium has the leader p laying a mixed strategy but the follower...

We study underwriting relationships in the floating rate debt market, where many issuers have a large number of offerings. We find that frequent issuers maintain close relationship with only three to five underwriters and pay significantly less underwriting fees than infrequent issuers. The...

Purpose – The purpose of this paper is to propose a model that predicts information communication technology (ICT) adoption in saturated markets, to analyze the shifting behaviors of the subscribers and to present the results. Design/methodology/approach – By developing an expanded Bass...

Purpose – The purpose of this study is to demonstrate how firms compete with each other in philanthropic giving in the context of a natural disaster. In particular, the authors want to investigate: Which firms act faster in disaster relief giving? How do late movers react? In the end, which...

Purpose – The purpose of this paper is to explore how the risk management objectives of the firm's owners influence the organization's sustainability strategies with a particular focus on new sustainability related initiatives. Given shareholder objectives direct firm attention to refine...

What is the appropriate degree of centralization in the context of industrial policy? The basic advantage of centralization results from internalization of external effects. While most of the literature stresses the superior information of regional authorities as a countervailing force, the...

The literature on tax competition generally concludes that international coordination of capital taxes among symmetric countries increases tax rates. This paper investigates whether this conclusion also holds in a political economy framework where taxes are set by elected policy makers. It shows...