How the Value of Information Shapes the Value of Commitment Or: Why the Value of Commitment Does Not Vanish
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Showalter, Dean M, 1995. "Oligopoly and Financial Structure: Comment," American Economic Review, American Economic Association, vol. 85(3), pages 647-653, June.
- Bagwell, Kyle, 1995.
"Commitment and observability in games,"
Games and Economic Behavior, Elsevier, vol. 8(2), pages 271-280.
- Kyle Bagwell, 1992. "Commitment and Observability in Games," Discussion Papers 1014, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Sven Fischer & Werner Güth & Wieland Müller & Andreas Stiehler, 2006.
"From ultimatum to Nash bargaining: Theory and experimental evidence,"
Experimental Economics, Springer;Economic Science Association, vol. 9(1), pages 17-33, April.
- Sven Fischer & Werner Güth & Wieland Müller, "undated". "From Ultimatum to Nash Bargaining: Theory and Experimental Evidence," Papers on Strategic Interaction 2003-07, Max Planck Institute of Economics, Strategic Interaction Group.
- Fischer, S. & Güth, W. & Stiehler, A. & Müller, W., 2003. "From Ultimatum to Nash Bargaining : Theory and Experimental Evidence," Discussion Paper 2003-41, Tilburg University, Center for Economic Research.
- Fischer, S. & Güth, W. & Müller, W. & Stiehler, A., 2006. "From ultimatum to Nash bargaining : Theory and experimental evidence," Other publications TiSEM 9d8fded2-0338-4217-afa9-1, Tilburg University, School of Economics and Management.
- Fischer, S. & Güth, W. & Stiehler, A. & Müller, W., 2003. "From Ultimatum to Nash Bargaining : Theory and Experimental Evidence," Other publications TiSEM 8dc1ff84-fa0c-4fee-96eb-f, Tilburg University, School of Economics and Management.
- Lehrer, Ehud & Rosenberg, Dinah, 2006.
"What restrictions do Bayesian games impose on the value of information?,"
Journal of Mathematical Economics, Elsevier, vol. 42(3), pages 343-357, June.
- Ehud Lehrer & Dinah Rosenberg, 2003. "What restrictions do Bayesian games impose on the value of information?," Game Theory and Information 0312005, University Library of Munich, Germany.
- Bolton, Patrick & Scharfstein, David S, 1990. "A Theory of Predation Based on Agency Problems in Financial Contracting," American Economic Review, American Economic Association, vol. 80(1), pages 93-106, March.
- Brander, James A. & Lewis, Tracy R., 1986. "Oligopoly and Financial Structure: The Limited Liability Effect," American Economic Review, American Economic Association, vol. 76(5), pages 956-970, December.
- James A. Brander & Barbara J. Spencer, 1983.
"Strategic Commitment with R&D: The Symmetric Case,"
Bell Journal of Economics, The RAND Corporation, vol. 14(1), pages 225-235, Spring.
- Barbara J. Spencer & James A. Brander, 1982. "Strategic Commitment with R&D: The Symmetric Case," Working Paper 516, Economics Department, Queen's University.
- Fudenberg, Drew & Tirole, Jean, 1984. "The Fat-Cat Effect, the Puppy-Dog Ploy, and the Lean and Hungry Look," American Economic Review, American Economic Association, vol. 74(2), pages 361-366, May.
- Guth, Werner & Kirchsteiger, Georg & Ritzberger, Klaus, 1998.
"Imperfectly Observable Commitments inn-Player Games,"
Games and Economic Behavior, Elsevier, vol. 23(1), pages 54-74, April.
- Werner GÜTH & Georg KIRCHSTEIGER & Klaus RITZBERGER, 1995. "Imperfectly Observable Commitments in n-Player Games," Vienna Economics Papers vie9507, University of Vienna, Department of Economics.
- Gueth, Werner & Kirchsteiger, Georg & Ritzberger, Klaus, 1996. "Imperfectly Observable Commitments in n-Player Games," Economics Series 35, Institute for Advanced Studies.
- Werner Güth & Georg Kirchsteiger & Klaus Ritzberger, 1998. "Imperfectly observable commitments in n-player games," ULB Institutional Repository 2013/5907, ULB -- Universite Libre de Bruxelles.
- Luca Lambertini & Gianpaolo Rossini, 1998. "Capital Commitment and Cournot Competition with Labour‐managed and Profit‐maximising Firms," Australian Economic Papers, Wiley Blackwell, vol. 37(1), pages 14-21, March.
- Morgan, John & Vardy, Felix, 2007.
"The value of commitment in contests and tournaments when observation is costly,"
Games and Economic Behavior, Elsevier, vol. 60(2), pages 326-338, August.
- Felix Várdy & John Morgan, 2005. "The Value of Commitment in Contests and Tournaments when Observation is Costly," Public Economics 0504005, University Library of Munich, Germany.
- Morgan, John & Várdy, Felix, 2005. "The Value of Commitment in Contests and Tournaments when Observation is Costly," Competition Policy Center, Working Paper Series qt0s6752rf, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
- Giovanni Maggi, 1999. "The Value of Commitment with Imperfect Observability and Private Information," RAND Journal of Economics, The RAND Corporation, vol. 30(4), pages 555-574, Winter.
- Economides, Nicholas, 1986. "Minimal and maximal product differentiation in Hotelling's duopoly," Economics Letters, Elsevier, vol. 21(1), pages 67-71.
- Fershtman, Chaim & Judd, Kenneth L, 1987.
"Equilibrium Incentives in Oligopoly,"
American Economic Review, American Economic Association, vol. 77(5), pages 927-940, December.
- Chaim Fershtman & Kenneth L Judd, 1984. "Equilibrium Incentives in Oligopoly," Discussion Papers 642, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Fershtman, Chaim & Gneezy, Uri, 2001.
"Strategic Delegation: An Experiment,"
RAND Journal of Economics, The RAND Corporation, vol. 32(2), pages 352-368, Summer.
- Fershtman, C & Gneezy, U, 1996. "Strategic Delegation : An Experiment," Papers 43-96, Tel Aviv.
- Fershtman, C. & Gneezy, U., 1997. "Strategic delegation : An experiment," Discussion Paper 1997-26, Tilburg University, Center for Economic Research.
- Fershtman, C. & Gneezy, U., 1997. "Strategic delegation : An experiment," Other publications TiSEM 38b9eba1-16cc-439b-85f7-c, Tilburg University, School of Economics and Management.
- Guth, Werner & Muller, Wieland & Spiegel, Yossi, 2006.
"Noisy leadership: An experimental approach,"
Games and Economic Behavior, Elsevier, vol. 57(1), pages 37-62, October.
- Wieland Müller & Yossi Spiegel & Werner Güth, "undated". "Noisy leadership: An experimental approach," Papers on Strategic Interaction 2002-10, Max Planck Institute of Economics, Strategic Interaction Group.
- Güth, W. & Müller, W. & Spiegel, Y., 2006. "Noisy leadership : An experimental approach," Other publications TiSEM e4796461-8862-4085-a867-8, Tilburg University, School of Economics and Management.
- Neyman, Abraham, 1991. "The positive value of information," Games and Economic Behavior, Elsevier, vol. 3(3), pages 350-355, August.
- Lehrer, Ehud & Rosenberg, Dinah, 2010.
"A note on the evaluation of information in zero-sum repeated games,"
Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 393-399, July.
- Dinah Rosenberg & Ehud Lehrer, 2010. "A Note on the Evaluation of Information in Zero-Sum Repeated Games," Post-Print hal-00537092, HAL.
- Kamien, Morton I. & Tauman, Yair & Zamir, Shmuel, 1990. "On the value of information in a strategic conflict," Games and Economic Behavior, Elsevier, vol. 2(2), pages 129-153, June.
- Anders Poulsen & Odile Poulsen, 2008. "A note on commitment when there are errors in communication," Economics Bulletin, AccessEcon, vol. 3(74), pages 1-8.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Michael Kopel & Clemens Löffler, 2008. "Commitment, first-mover-, and second-mover advantage," Journal of Economics, Springer, vol. 94(2), pages 143-166, July.
- Martin Kolmar & Andreas Wagener, 2013. "Inefficiency As A Strategic Device In Group Contests Against Dominant Opponents," Economic Inquiry, Western Economic Association International, vol. 51(4), pages 2083-2095, October.
- Matthew J. Clayton, 1996. "Debt, Investment, and Product Market Competition," New York University, Leonard N. Stern School Finance Department Working Paper Seires 96-21, New York University, Leonard N. Stern School of Business-.
- Matthew J. Clayton, 1999. "Debt, Investment, and Product Market Competition," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-056, New York University, Leonard N. Stern School of Business-.
- Fershtman, Chaim & Kalai, Ehud, 1997.
"Unobserved Delegation,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(4), pages 763-774, November.
- Fershtman, C. & Kalai, E., 1993. "Unobserved Delegation," Papers 10-93, Tel Aviv - the Sackler Institute of Economic Studies.
- Chaim Fershtman & Ehud Kalai, 1993. "Unobserved Delegation," Discussion Papers 1043, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Anders Poulsen & Michael Roos, 2010.
"Do people make strategic commitments? Experimental evidence on strategic information avoidance,"
Experimental Economics, Springer;Economic Science Association, vol. 13(2), pages 206-225, June.
- Anders U. Poulsen & Michael W. M. Roos, 2009. "Do people make strategic commitments? Experimental evidence on strategic information avoidance," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 09-01, School of Economics, University of East Anglia, Norwich, UK..
- Anders Poulsen & Michael Roos, 2010. "Do People Make Strategic Commitments? Experimental Evidence on Strategic Information Avoidance," University of East Anglia Applied and Financial Economics Working Paper Series 007, School of Economics, University of East Anglia, Norwich, UK..
- Guth, Werner & Muller, Wieland & Spiegel, Yossi, 2006.
"Noisy leadership: An experimental approach,"
Games and Economic Behavior, Elsevier, vol. 57(1), pages 37-62, October.
- Wieland Müller & Yossi Spiegel & Werner Güth, "undated". "Noisy leadership: An experimental approach," Papers on Strategic Interaction 2002-10, Max Planck Institute of Economics, Strategic Interaction Group.
- Güth, W. & Müller, W. & Spiegel, Y., 2006. "Noisy leadership : An experimental approach," Other publications TiSEM e4796461-8862-4085-a867-8, Tilburg University, School of Economics and Management.
- Brishti Guha, 2017. "Costly Leader Games with a Probabilistically Non-Strategic Leader," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 19(02), pages 1-14, June.
- Anders U. Poulsen & Michael V. M. Roos, 2009. "Do People Make Strategic Moves? Experimental Evidence on Strategic Information Avoidance," Discussion Papers 09-06, University of Copenhagen. Department of Economics.
- Spagnolo, Giancarlo, 1998. "Debt as a (Credible) Collusive Device, or: "Everybody Happy but the Consumer"," SSE/EFI Working Paper Series in Economics and Finance 243, Stockholm School of Economics, revised 01 Aug 2004.
- Bhaskar, V., 2009. "Commitment and observability in a contracting environment," Games and Economic Behavior, Elsevier, vol. 66(2), pages 708-720, July.
- Aghion, Philippe & Dewatripont, Mathias & Legros, Patrick & Zingales, Luigi (ed.), 2016. "The Impact of Incomplete Contracts on Economics," OUP Catalogue, Oxford University Press, number 9780199826216.
- Poulsen, Anders, 2007. "Learning to Make Strategic Moves: Experimental Evidence," MPRA Paper 10927, University Library of Munich, Germany.
- Giorgos Stamatopoulos, 2016. "Cournot and Stackelberg equilibrium under strategic delegation: an equivalence result," Theory and Decision, Springer, vol. 81(4), pages 553-570, November.
- Hughes, John S. & Kao, Jennifer L., 1997. "Strategic forward contracting and observability," International Journal of Industrial Organization, Elsevier, vol. 16(1), pages 121-133, November.
- Federico Etro, 2010.
"Endogenous market structures and the optimal financial structure,"
Canadian Journal of Economics, Canadian Economics Association, vol. 43(4), pages 1333-1352, November.
- Federico Etro, 2010. "Endogenous market structures and the optimal financial structure," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 43(4), pages 1333-1352, November.
- Federico Etro, 2010. "Endogenous Market Structures and Contract Theory," Working Papers 181, University of Milano-Bicocca, Department of Economics, revised Mar 2010.
- Povel, Paul & Raith, Michael, 2004. "Financial constraints and product market competition: ex ante vs. ex post incentives," International Journal of Industrial Organization, Elsevier, vol. 22(7), pages 917-949, September.
- Mitani, Hidetaka, 2014. "Capital structure and competitive position in product market," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 358-371.
- Giacinta Cestone, 1999. "Corporate Financing and Product Market Competition: An Overview," CSEF Working Papers 18, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
More about this item
Keywords
Value of Information; Value of Commitment; Sequential Move Game; Imperfect Observability; Stackelberg Duopoly; First-Mover Advantage;All these keywords.
JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
NEP fields
This paper has been announced in the following NEP Reports:- NEP-COM-2014-02-08 (Industrial Competition)
- NEP-CTA-2014-02-08 (Contract Theory and Applications)
- NEP-ICT-2014-02-08 (Information and Communication Technologies)
- NEP-MIC-2014-02-08 (Microeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inn:wpaper:2014-03. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Judith Courian (email available below). General contact details of provider: https://edirc.repec.org/data/fuibkat.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.