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Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/37484
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Carlson, Murray | | en_US |
| dc.contributor.author | | Dockner, Engelbert | | en_US |
| dc.contributor.author | | Fisher, Adlai | | en_US |
| dc.contributor.author | | Giammarino, Ron | | en_US |
| dc.date.accessioned | | 2010-08-11T09:09:48Z | | - |
| dc.date.available | | 2010-08-11T09:09:48Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/37484 | | - |
| dc.description.abstract | | We study own and rival risk in a dynamic duopoly with a homogeneous output good. A competitor's options to adjust capacity reduce own-firm risk through a simple hedging channel. For example, if a rival possesses a growth option, an increase in industry demand directly enhances current profits but also encourages value-reducing competitor expansion. As a consequence, when a leader and a follower emerge in equilibrium, risk dynamics depart substantially from previously-studied simultaneous move benchmarks. Own-firm and competitor required returns tend to move together through contractions and oppositely during expansions, providing testable new empirical predictions. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Verein für Socialpolitik Frankfurt a. M. | | en_US |
| dc.relation.ispartofseries | | Beiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Dynamic Models of Investment D8-V2 | | en_US |
| dc.subject.jel | | G31 | | en_US |
| dc.subject.jel | | D43 | | en_US |
| dc.subject.jel | | D92 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Growth options and industry risk | | en_US |
| dc.subject.keyword | | asset pricing and investment decisions | | en_US |
| dc.subject.keyword | | risk dynamics in oligopolistic industries | | en_US |
| dc.title | | Leaders, Followers, and Risk Dynamics in Industry Equilibrium | | en_US |
| dc.type | | Conference Paper | | en_US |
| dc.identifier.ppn | | 654846618 | | - |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Jahrestagung des Vereins für Socialpolitik 2010 (Kiel): Ökonomie der Familie
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