TY - GEN
T1 - Opportunity Hunters
T2 - 24th ACM Conference on Economics and Computation, EC 2023
AU - Eilat, Ran
AU - Neeman, Zvika
AU - Solan, Eilon
N1 - Publisher Copyright:
© 2023 Owner/Author(s).
PY - 2023/7/9
Y1 - 2023/7/9
N2 - There are many economic situations in which players compete to identify an uncertain event, or an "opportunity."Once an opportunity appears, seizing it quickly is critical. For example, two firms may consider the introduction of a new technology into a market, which may either be ripe for the technology or not. The first firm to identify that the market is ripe and act benefits greatly. However, acting if the market is not ripe generates large losses, and checking market conditions is costly. Other natural contexts in which competition for opportunities occurs include innovation, patenting, launching new products, selling assets, head hunting, and dating. What is common to all these examples is that the right moment to act depends on identifying an unobservable event, while taking the other player's strategy into account.
AB - There are many economic situations in which players compete to identify an uncertain event, or an "opportunity."Once an opportunity appears, seizing it quickly is critical. For example, two firms may consider the introduction of a new technology into a market, which may either be ripe for the technology or not. The first firm to identify that the market is ripe and act benefits greatly. However, acting if the market is not ripe generates large losses, and checking market conditions is costly. Other natural contexts in which competition for opportunities occurs include innovation, patenting, launching new products, selling assets, head hunting, and dating. What is common to all these examples is that the right moment to act depends on identifying an unobservable event, while taking the other player's strategy into account.
KW - opportunities
KW - opportunity-hunting games
KW - sequential inspection
UR - http://www.scopus.com/inward/record.url?scp=85168134517&partnerID=8YFLogxK
U2 - 10.1145/3580507.3597760
DO - 10.1145/3580507.3597760
M3 - Conference contribution
AN - SCOPUS:85168134517
T3 - EC 2023 - Proceedings of the 24th ACM Conference on Economics and Computation
SP - 582
BT - EC 2023 - Proceedings of the 24th ACM Conference on Economics and Computation
PB - Association for Computing Machinery, Inc
Y2 - 9 July 2023 through 12 July 2023
ER -