期刊名称：DEEP Cahiers de Recherches Économiques / Université de Lausanne
出版年度：1999
期号：19
出版社：Université de Lausanne
摘要：This paper studies under what circumstances an incumbent has an incentive to over-invest in a "commitment variable" such as advertising or R&D expenditures. It is sometimes argued that the answer crucially depends on the question, wether the "second stage variables" are strategic complements or substitutes. We show that in the derivation of this result the authors implicitly make the (very) restrictive assumption that the first stage "commitment variable" has no direct effect on the competitor's reaction function. Once this assumption is relaxed the clear cut distinction along the lines "strategic complements", "strategic substitutes" no longer holds.
