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On sequential and simultaneous contributions under incomplete information

✍ Scribed by Parimal Kanti Bag; Santanu Roy

Publisher
Springer-Verlag
Year
2010
Tongue
English
Weight
267 KB
Volume
40
Category
Article
ISSN
0020-7276

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This paper introduces incomplete information and preemption into an equilibrium model of ΓΏrms facing real investment decisions. The optimal investment strategy may lie anywhere between the zero-NPV trigger level and the optimal strategy of a monopolist, depending on the distribution of competitors'