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This paper analyses the exercise decision of non-exclusive real options in a two-player setting. A general model of non-exclusive real options, allowing the underlying asset to follow any strong Markov process is developed, thus extending the existing literature, which is mainly based on...
Persistent link: https://www.econbiz.de/10005523939
Two asymmetric potential entrants contemplate entering a new market. Firms differ in their potential profit flows and investment sunk costs. The market demand follows a geometric Brownian motion. This paper shows that under certain parameter conditions, there will be an equilibrium triggered by...
Persistent link: https://www.econbiz.de/10013081666
little, fierce competition between providers of similar services is expected. We consider a model where two e …
Persistent link: https://www.econbiz.de/10010280782
little, fierce competition between providers of similar services is expected. We consider a model where two e … prefer the less popular and cheaper one. -- E-commerce ; Intermediary ; Competition ; Listing fee ; Closing fee …
Persistent link: https://www.econbiz.de/10008746177
allocate his resources so as to direct his competition towards particular rivals -- we call such competition selective. The … setting can be applied to a wide variety of cases: competition between firms, competition between political parties, warfare …
Persistent link: https://www.econbiz.de/10011378872
competition under duopoly and derive the Markov Perfect Equilibrium pricing strategies.Contrary to intuition we find that …
Persistent link: https://www.econbiz.de/10012856272
little, fierce competition between providers of similar services is expected. We consider a model where two e …
Persistent link: https://www.econbiz.de/10008739210
Previous theoretical researches show that learning from good performers yields intense competition and results in the … useful strategic tool to mitigate competition. We introduce an evolutionary (learning) game into a duopoly model with product … even when firms have an opportunity to differentiate themselves through product differentiation and to mitigate competition …
Persistent link: https://www.econbiz.de/10014194700
We consider a dynamic competition game among three players, where each player can vary the extent of his competition on … a per-rival basis. We call such competition targeted. We show that if the players are myopic, the weaker players … competition can be applied to competition between firms or political parties, or to warfare …
Persistent link: https://www.econbiz.de/10014205539
Potential competition restrains the prices of an incumbent seller when the incumbent can alter the environment … with the incumbent's product. A primary tool for making a product ubiquitous is low pricing. Hence potential competition …
Persistent link: https://www.econbiz.de/10014074363