Strategic Investment under Uncertainty with First- and Second-mover Advantages
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We analyze firm entry in a duopoly real-option game. The interaction between first- and second-mover advantages gives rise to a unique Markov subgame-perfect symmetric equilibrium, featuring state-contingent pure and mixed strategies in multiple endogenously-determined regions. In addition to the
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美国国家经济研究局创建时间：
2022-06-01
