Bidding between incumbent and entrant |
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| Authors: | Nan Zhou |
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| Affiliation: | School of Management, State University of New York at Binghamton, Binghamton, NY 13902-6015, USA |
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| Abstract: | ![]()
Facing an informed incumbent who has cost advantages in two different states, the uninformed entrant bids cautiously due to the incumbent’s cost advantage in the low cost state. The incumbent bids aggressively, earning additional profits because of his cost advantages. |
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| Keywords: | Auction Information asymmetry Cost asymmetry |
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