8) For example, suppose that a given
first mover happens to be paired with Type a (rich) second movers in rounds 1 and 2, and Type b (poor) second movers in rounds 3 and 4.
The second mover is instructed to keep his or her endowment, while the
first mover can keep his or her money or send any portion of it to the second mover.
This "vicarious learning" advantage can identify common mistakes
first movers make in either over-estimating demand for new services or products, or making fatal errors in gauging the technological challenges facing a new venture.
In the first phase of the protocol, the
first mover sees his counterpart's photo, then decides how much of a $10 endowment to send.
As a
first mover, the Rule Breaker must have been the first to do something.
In the investment game and the related trust game described below, a
first mover can forgo a certain payoff in favor of a larger total payoff that will be allocated by a paired second mover.
Operating in a market that is conservatively expected to exceed $1 billion by 2010, Mirics is well positioned to gain an important
first mover advantage in this rapidly emerging market.
The voluntary trade is mutually welfare improving, but it requires the first party to forego something of value and risk not having the transaction completed; thus the
first mover must trust that the second mover is trustworthy.
Subjects are not informed that the amounts of
first mover endowments and second mover additional dollar amounts were determined by other subjects' decisions in a preceding experiment session with game A.
4) Any amount X sent by the
first mover was doubled by the experimenter.
They discuss
first mover, second mover or imitator, low-cost producer (LCP), and niche.
The Strategic Marketing Initiative Scale developed exhibited high reliability, and has application in assisting management in recognizing marketing areas for
first mover advantages.
