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Titolo:
Second-mover advantages in the strategic adoption of new technology under uncertainty
Autore:
Hoppe, HC;
Indirizzi:
Univ Hamburg, D-20146 Hamburg, Germany Univ Hamburg Hamburg Germany D-20146 v Hamburg, D-20146 Hamburg, Germany
Titolo Testata:
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION
fascicolo: 2, volume: 18, anno: 2000,
pagine: 315 - 338
SICI:
0167-7187(200002)18:2<315:SAITSA>2.0.ZU;2-P
Fonte:
ISI
Lingua:
ENG
Soggetto:
DIFFUSION; INNOVATION; LEADERSHIP; IMITATION; MARKET;
Keywords:
innovation; timing; technological uncertainty;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Social & Behavioral Sciences
Citazioni:
27
Recensione:
Indirizzi per estratti:
Indirizzo: Hoppe, HC Univ Hamburg, Melle Pk 5, D-20146 Hamburg, Germany Univ Hamburg Melle Pk 5 Hamburg Germany D-20146 amburg, Germany
Citazione:
H.C. Hoppe, "Second-mover advantages in the strategic adoption of new technology under uncertainty", INT J IND O, 18(2), 2000, pp. 315-338

Abstract

This paper introduces technological uncertainty into a timing game of new technology adoption. It is shown that the timing neither necessarily involves first-mover advantages in precommitment equilibria (Reinganum, Review ofEconomic Studies, XLVIII (1981) 395-405) nor rent-equalization due to the threat of preemption (Fudenberg and Tirole, Review of Economic Studies, LII(1985) 383-401). Rather, there may be second-mover advantages because of informational spillovers. Furthermore, the model predicts that the equilibrium payoffs will typically be discontinuous and non-monotonic in the probability that the new technology is profitable. A welfare analysis reveals several market failures, and suggests that policy intervention should adequately depend on the nature of uncertainty and the rate of technological progress. (C) 2000 Elsevier Science B.V. All rights reserved. JEL classification: L13; O31; O32.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 20/09/20 alle ore 10:32:45