Breakdowns

We study a continuous‐time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we find...

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Hlavní autoři: Keller, G, Rady, S
Médium: Journal article
Jazyk:English
Vydáno: John Wiley and Sons, Ltd. 2015