Hörtnagl, Tanja; Kerschbamer, Rudolf - Institut für Finanzwissenschaft, Fakultät für … - 2014
This paper challenges recent results on the fragility of the value of commitment. It introduces a specific notion of … sufficient for a positive value of commitment for the previouslymoving player. It then argues that the value of information for a … later-moving player is unlikely to vanish in real-world applications, implying that the value of commitment for the …