Séminaire KTO-GREDEG-OFCE - Claudio Panico (Bocconi University)

Who Controls What, When? The Strategic Implications of Timing and Control in Joint Projects.
Quand ? Le 05-11-2019,
de 12:15 à 13:45
Où ? SKEMA Business School - K Center, 1st floor
S'adresser à
Ajouter un événement au calendrier vCal
iCal

Claudio Panico (Bocconi University)

Title: “Who Controls What, When? The Strategic Implications of Timing and Control in Joint Projects.

Abstract: We build on organizational economics to offer a process-level analysis of joint projects that cannot be governed contractually, such as R&D and exploitation and exploration processes. Our analysis accounts for control over resources and incentives to invest, but differently from previous works, it also emphasizes the timing of the investments and the resource allocation. We investigate organizational modes with parallel vs sequential investments, and ex-ante commitment vs ex-post adaptation of resource allocation. Our game-theoretical analysis reveals that the allocation of resources induces an anti-coordination game over the timing of the investment decisions, and that commitment generates an additional tension relatively to adaptation because of the incentive to vie to invest after the partner. Also, whereas with commitment the party in control retains all the resources, adaptation entails a more balanced allocation. We also contrast the efficient and the (individually) optimal organizational mode for joint projects. 

If you intend to join, please let us know by filling the doodle at the link below.

https://doodle.com/poll/htaqz7kqedibkn8a