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Preemption games: theory and experiment

American Economic Review

By:
, ,
DOI: 10.1257/aer.100.4.1778

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Abstract

El Mutún, perhaps the world's largest remaining iron ore deposit, was opened to private investors in the 1980s but, due to the high cost of developing the remote Bolivian site, there were no takers for two decades. In late 2005, spurred by rising commodity prices, the Brazilian company EBX finally seized the opportunity, preempting rivals based in China and India. Numerous similar examples can be found in the annals of mining and oil companies (Raymond F. Mikesell et al. 1971).

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
Preemption games: theory and experiment
Series title:
American Economic Review
DOI:
10.1257/aer.100.4.1778
Volume
100
Issue:
4
Year Published:
2010
Language:
English
Publisher:
American Economic Association
Publisher location:
Nashville, TN
Contributing office(s):
National Minerals Information Center
Description:
26 p.
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
Larger Work Title:
American Economic Review
First page:
1778
Last page:
1803