Disincentives for cost-reducing investment

被引：9
|
作者：
Thomas, CJ [1 ]
机构：
[1] Fed Trade Commiss, Washington, DC 20580 USA
来源：
ECONOMICS LETTERS | 1997年 / 57卷 / 03期
关键词：
asymmetric auction; strategic investment;
D O I：
10.1016/S0165-1765(97)00237-1
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Interpreting a result from asymmetric auctions suggests that price-setting firms may have no incentive to adopt technologies that likely reduce their production costs. This "puppy dog" behavior relies on incomplete information about rivals' costs at the price-setting stage. (C) 1997 Elsevier Science S.A.
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页码：359 / 363
页数：5
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