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