Preemption and Rent Equalization in the Adoption of New Technology
- 1 July 1985
- journal article
- Published by Oxford University Press (OUP) in The Review of Economic Studies
- Vol. 52 (3) , 383-401
- https://doi.org/10.2307/2297660
Abstract
We study the adoption of a new technology to illustrate the effects of preemption in games of timing. We show that the threat of preemption equalizesKeywords
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