dc.contributor.author |
Kao, Tina |
en |
dc.date.accessioned |
2006-11-30T20:53:49Z |
en |
dc.date.available |
2006-11-30T20:53:49Z |
en |
dc.date.issued |
2002 |
en |
dc.identifier.citation |
Department of Economics Working Paper Series 234 |
en |
dc.identifier.uri |
http://hdl.handle.net/2292/224 |
en |
dc.description.abstract |
This paper analyses R&D competition among firms with incomplete
information. In a stochastic R&D game, firms possess private information
regarding their R&D progress. They can only observe the rival's R&D
investments, but not its actual R&D position, R&D investments thus
carry both investment and signalling effects. In this two-period model.
there are two possible regimes for the second period game: the complete
information regime and the signalling regime. In the signalling regime.
in order to credibly convey to the rival its first period research success,
the first mover has to over-invest. Both firms have higher profits in the
complete information regime. The game is in the signalling regime if the
difference b€tween monopoly and duopoly profit is sufficiently large and
if the possibility of leapfrogging is high. For some parameter ranges, the
choice of the information regime is endogenous. |
en |
dc.format.extent |
application/pdf |
en |
dc.format.mimetype |
text |
en |
dc.language.iso |
en |
en |
dc.publisher |
ResearchSpace@Auckland |
en |
dc.relation.ispartofseries |
Department of Economics Working Paper Series (1997-2006) |
en |
dc.rights |
Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. |
en |
dc.rights.uri |
https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm |
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dc.subject.other |
Economics |
en |
dc.title |
Asymmetric Information and R&D Competition |
en |
dc.type |
Working Paper |
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dc.rights.holder |
Copyright: the author |
en |
dc.rights.accessrights |
http://purl.org/eprint/accessRights/OpenAccess |
en |
pubs.org-id |
Economics |
en |