EconPapers    
Economics at your fingertips  
 

Duplicative search

Alexander Matros and Vladimir Smirnov ()

Games and Economic Behavior, 2016, vol. 99, issue C, 1-22

Abstract: In this paper we examine the dynamic search of two rivals looking for a prize of known value that is hidden in an unknown location, modeled as search for treasure on an island. In every period, the players choose how much to search of the previously unsearched portion of the island in a winner-takes-all contest. If the players cannot coordinate so as to avoid searching the same locations, the unique equilibrium involves complete dissipation of rents. On the other hand, if the players have some (even limited) ability to coordinate so as to avoid duplicative search and the search area is sufficiently small, there is a unique equilibrium in which the full area is searched and each player earns a positive expected return.

Keywords: R&D; Search; Duplication; Uncertainty; Coordination (search for similar items in EconPapers)
JEL-codes: D21 O32 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825616300598
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Duplicative Search (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:99:y:2016:i:c:p:1-22

Access Statistics for this article

Games and Economic Behavior is currently edited by E. Kalai

More articles in Games and Economic Behavior from Elsevier
Series data maintained by Dana Niculescu ().

 
Page updated 2017-11-08
Handle: RePEc:eee:gamebe:v:99:y:2016:i:c:p:1-22