Lambertini, Luca ; Tedeschi, Piero
(2003)
Would you like to enter first with a low-quality good?
DOI 10.6092/unibo/amsacta/606.
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Official URL: http://www.dse.unibo.it/wp/494.pdf
Abstract
Using a two-period duopoly model with vertical differentiation, we show that there exists a unique subgame perfect equilibrium where the first entrant supplies a lower quality and gains higher profits than the second entrant. We also prove that this entry sequence is also socially efficient.
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