This paper compares the equilibrium outcomes under simultaneous and sequential price settings in a vertically differentiated market. When the timing of the price game is determined endogenously, it is shown that the sequential play with the high quality firm leading emerges, yielding the highest...

The aim of this paper is to investigate the welfare effect of a change in the public firm's objective function in oligopoly when the government takes into account the distortionary effect of rising funds by taxation (shadow cost of public funds). We analyze the impact of a shift from welfare- to...

We investigate endogenous timing in a mixed oligopoly consisting of a single public firm and foreign competitors and compare the results with those in Pal (1998) to see the effect of the nationality of private firms on the endogenous role of the public firm. We find that the results are the same...

In a setting where agents must choose between two investments, Zhang (in RAND J Econ 28:188–205, <CitationRef CitationID="CR7">1997</CitationRef>) proposed an equilibrium in which there is strategic delay. This equilibrium relied upon there being an information cascade. We shall demonstrate that an information cascade need not generally...</citationref>

This paper reexamines the work of Kempf and Rota-Graziosi (J. Pub. Econ. 94: 768-776, 2010), which shows that leadership by the small region is the risk dominant equilibrium under the endogenous timing game. They obtain this result in a model where the asymmetry among countries translates into...

Multinational companies can shift profit and income between branches in order to reduce the overall tax liabilities of the company. The result is a tax competition between countries. In this paper we consider the sequential choice of tax rates to illustrate the potential effects of tax...

In this paper, we endogenize the timing of policymaking in a simple two-country model of strategic environmental policy. We consider a timing game in which two policymakers non-cooperatively decide their preferred sequence of moves before setting emission tax rates. We show that whether the...

We present a model of endogenous formation of R&D agreements among firms in which also the timing of R&D investment is made endogenous. The purpose is to bridge two usually separate streams of literature, the noncooperative formation of R&D alliances and the endogenous timing literature. Our...

This paper investigates whether the relative-profit-maximization objective of private firms affects endogenous timing in a mixed oligopoly in the linear demand case. Assuming firms have constant marginal costs and symmetric private firms are more efficient than the public firm, it is found that...

We investigated the endogenous choice of roles by managerial firms in the presence of unilateral externality. The choice over timing can be taken either by managers or by owners. It is shown that (i) the choice of the timing by managers entails the same profit that owners would have achieved by...