Payoff interdependence and information externalities

Detalhes bibliográficos
Autor(a) principal: Martensen, Kaj
Data de Publicação: 2000
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12964
Resumo: This paper studies entry under information and payoff externalities. We consider a sequential investment game with uncertain payoffs where each firm is endowed with a private signal about profitability. It is shown that both over- and under-investment characterize the equilibria and that under-investment only occurs when investments are complements. Further we find that a reverse informational externality is present.
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spelling Martensen, KajEscolas::EPGEFGV2014-12-22T14:12:28Z2014-12-22T14:12:28Z2000-01-14http://hdl.handle.net/10438/12964This paper studies entry under information and payoff externalities. We consider a sequential investment game with uncertain payoffs where each firm is endowed with a private signal about profitability. It is shown that both over- and under-investment characterize the equilibria and that under-investment only occurs when investments are complements. Further we find that a reverse informational externality is present.engFundação Getulio Vargas. Escola de Pós-graduação em EconomiaSeminários de Almoço da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessPayoff interdependence and information externalitiesinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaExternalidades (Economia)reponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL1439262_m377p.pdf1439262_m377p.pdfapplication/pdf856085https://repositorio.fgv.br/bitstreams/982308ab-3f9e-4ec3-949b-51822a862426/downloadb7009700195d4defa0f18b82c5b14130MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/71ba3e26-1217-4661-81f9-c56897452718/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT1439262_m377p.pdf.txt1439262_m377p.pdf.txtExtracted 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dc.title.eng.fl_str_mv Payoff interdependence and information externalities
title Payoff interdependence and information externalities
spellingShingle Payoff interdependence and information externalities
Martensen, Kaj
Economia
Externalidades (Economia)
title_short Payoff interdependence and information externalities
title_full Payoff interdependence and information externalities
title_fullStr Payoff interdependence and information externalities
title_full_unstemmed Payoff interdependence and information externalities
title_sort Payoff interdependence and information externalities
author Martensen, Kaj
author_facet Martensen, Kaj
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Martensen, Kaj
dc.subject.area.por.fl_str_mv Economia
topic Economia
Externalidades (Economia)
dc.subject.bibliodata.por.fl_str_mv Externalidades (Economia)
description This paper studies entry under information and payoff externalities. We consider a sequential investment game with uncertain payoffs where each firm is endowed with a private signal about profitability. It is shown that both over- and under-investment characterize the equilibria and that under-investment only occurs when investments are complements. Further we find that a reverse informational externality is present.
publishDate 2000
dc.date.issued.fl_str_mv 2000-01-14
dc.date.accessioned.fl_str_mv 2014-12-22T14:12:28Z
dc.date.available.fl_str_mv 2014-12-22T14:12:28Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/12964
url http://hdl.handle.net/10438/12964
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Seminários de Almoço da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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collection Repositório Institucional do FGV (FGV Repositório Digital)
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