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(1)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(2)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(3)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview The Model Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(4)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(5)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview The Model Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(6)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(7)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation

Preview

The Model Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(8)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(9)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation

Preview

The Model Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(10)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(11)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

total output random

shock

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(12)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

own investment status  {0,1}

rival’s investment status  {0,1}

(13)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(14)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(15)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(16)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(17)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(18)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(19)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness Limited Alertness     Comparative Statics     Final Remarks

Preemption

(20)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

firm value

preemption

investment trigger follower

(21)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

•

firm value

•

leader’s investment trigger

preemption

Motivation Preview  The Model     Perfect Alertness Limited Alertness     Comparative Statics     Final Remarks

(22)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(23)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

more alert firm’s stopping time

less alert firm’s stopping time

(stronger constraint) detection

precedes entry

Motivation Preview  The Model     Perfect Alertness     Limited Alertness Comparative Statics     Final Remarks

(24)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(25)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness Comparative Statics     Final Remarks

Symmetric detection thresholds (  )

prob.

sequential entry

(26)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

prob.

simultaneous entry

(27)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness Comparative Statics     Final Remarks

Symmetric detection thresholds (  )

(28)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

•

•

firm value

one firm leads

FMA rent

the other firm follows

(29)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

•

•

Motivation Preview  The Model     Perfect Alertness     Limited Alertness Comparative Statics     Final Remarks

Symmetric detection thresholds (  )

firm value

both firms invest (here with prob. = 1)

•

(30)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(31)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness Comparative Statics     Final Remarks

(32)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(33)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

•

•

Motivation Preview  The Model     Perfect Alertness     Limited Alertness Comparative Statics     Final Remarks

Asymmetric detection thresholds (  )

firm value

firm f invests

FMA rent

firm f

(34)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(35)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(36)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(37)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

Volatility

(38)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

(39)

Discussion Boyer et al. 2006

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

Motivation Preview  The Model     Perfect Alertness     Limited Alertness     Comparative Statics     Final Remarks

(40)

IO seminar Feb. 2014 / “Alertness, Leadership, and Nascent Market Dynamics” Bruno Versaevel

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