A rising tide lifts all boats? Upward trend and a second-mover advantage

Alexander Matros, Vladimir Smirnov and Andrew Wait

No 2024-19, Working Papers from University of Sydney, School of Economics

Abstract: Steg (2022) notes that Smirnov and Wait (2021) holds only under an as- sumption of symmetry. Here we show that all the analysis for an asymmetric environment in Smirnov and Wait (2021) applies under the assumption that there is a positive trend in the local maxima of leader payo s. Moreover, this new assumption holds in all of the examples in the original paper, and is relevant in a broad range of economic scenarios.

Keywords: timing games; second-mover advantage; preemption (search for similar items in EconPapers)
Date: 2024-08
New Economics Papers: this item is included in nep-gth
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