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ENTRY PATTERNS OVER THE PRODUCT LIFE CYCLE

机译:产品生命周期内的进入模式

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摘要

We study a game-theoretic real options model of new market entry based on empirical evidence of demand for a new product growing over time and eventually falling. Yet, firms do not know ex ante when this will occur, which creates incentives to update information by delaying irreversible entry. By assuming that the construction of a new productive plant takes some time and is unobservable in the meantime, while operation in the market is not, we show that entry rates increase or decrease under certain conditions related to the rate at which flow profits decrease as more firms enter the industry.
机译:我们基于对新产品需求随时间增长并最终下降的经验证据,研究了新市场进入的博弈论实物期权模型。然而,企业并不知道事态何时会发生,这会通过延迟不可逆的进入来激励人们更新信息。通过假设一个新的生产工厂的建设需要一些时间并且在此期间是不可观察的,而在市场上却无法运作,我们表明在一定条件下,进入率会随着流量利润的降低而增加或降低。公司进入行业。

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