We consider a dynamic market with two firms that sell competing common-value products. The firms offer both products to an infinite set of rational consumers. Each consumer observes a conditionally independent and identically distributed private signal about the product qualities. Consumers...

This paper considers a dynamic market with two firms that sell competing products. The products are offered to an infinite set of rational consumers each of whom observes conditionally independent private signals about the quality. Consumers enter the market sequentially, observe the market...