Pioneer, early follower or late entrant: Entry dynamics with learning and market competition
Pioneer, early follower or late entrant: Entry dynamics with learning and market competition
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先驱者、早期追随者或后来者：学习和市场竞争的进入动态
DOI：
10.1016/j.euroecorev.2022.104360
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发表时间：
2023
影响因子：
2.8
通讯作者：
Mukherjee Arijit
中科院分区：
文献类型：
--
作者：
Chen Chia-Hui;Ishida Junichiro;Mukherjee Arijit
市场进入时机是企业必须做出的最重要的战略决策之一，但其决策过程因信息和收益外部性而变得复杂。竞争的威胁促使企业更早地进入市场，以抢占竞争对手的先机，而学习的可能性则使它们谨慎地等待别人采取行动。这种组合相当于一类新的时间博弈，先动优势首先出现在抢占博弈中，但后动优势后来占上风，如消耗战。我们的模型确定在什么条件下，一个公司成为先驱者，早期的追随者或后期进入者，并提供了效率的影响，突出静态市场竞争和动态进入竞争之间难以捉摸的联系。
Timing of market entry is one of the most important strategic decisions a firm must make, but its decision process becomes convoluted with information and payoff externalities. The threat of competition pushes firms to enter earlier to preempt their rivals while the possibility of learning makes them cautiously wait for others to take action. This combination amounts to a new class of timing games where a first-mover advantage first emerges as in preemption games but a second-mover advantage later prevails as in wars of attrition. Our model identifies under what conditions a firm becomes a pioneer, early follower or late entrant and provides efficiency implications by highlighting an elusive link between static market competition and dynamic entry competition.