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Optimal firm growth under the threat of entry
The paper studies the incumbent-entrant problem in a fully dynamic setting. We find that under an open-loop information structure the incumbent anticipates entry by overinvesting, whereas in the Markov perfect equilibrium the incumbent slightly underinvests in the period before the entry. The entry...
| Autores principales: | , |
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| Formato: | Online Artículo Texto |
| Lenguaje: | English |
| Publicado: |
North-Holland Pub. Co
2015
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| Materias: | |
| Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4567062/ https://www.ncbi.nlm.nih.gov/pubmed/26435573 http://dx.doi.org/10.1016/j.ejor.2015.04.030 |