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来源类型Working Paper
规范类型报告
DOI10.3386/w29008
来源IDWorking Paper 29008
Collective Progress: Dynamics of Exit Waves
Doruk Cetemen; Can Urgun; Leeat Yariv
发表日期2021-07-12
出版年2021
语种英语
摘要We study a model of collective search by teams. Discoveries beget discoveries and correlated search results are governed by a Brownian path. Search results' variation at any point---the search scope---is jointly controlled. Agents individually choose when to cease search and implement their best discovery. We characterize equilibrium and optimal policies. Search scope is constant and independent of search outcomes as long as no member leaves. It declines after departures. A simple drawdown stopping boundary governs each agent’s search termination. We show the emergence of endogenous exit waves, whereby possibly heterogeneous agents cease search all at once.
主题Microeconomics ; Game Theory ; Economics of Information ; Development and Growth ; Innovation and R& ; D
URLhttps://www.nber.org/papers/w29008
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/586682
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Doruk Cetemen,Can Urgun,Leeat Yariv. Collective Progress: Dynamics of Exit Waves. 2021.
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