A behavioural game theory perspective on the collaboration between innovative and entrepreneurial firms

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Abstract

From a behavioural game theory perspective, we characterise the strategic interactions between a smaller innovative firm and a larger entrepreneurial firm as they try to form a strategic alliance to commercialise a technological invention. If the innovative firm is not too overconfident and the entrepreneurial firm is not too complacent, it is likely that the game is similar to the stag hunt game with two Nash equilibria. However, in addition to securing the funds needed to commercialise the invention, both firms need to contribute sufficient and complementary efforts when they choose to cooperate. The larger entrepreneurial firm can also expedite the commercialisation process if it chooses the cooperative strategy first and takes the initiative to offer financial and entrepreneurial assistance to the smaller innovative firm.

Original languageEnglish (US)
Pages (from-to)6-31
Number of pages26
JournalInternational Journal of Work Innovation
Volume2
Issue number1
DOIs
StatePublished - 2017

All Science Journal Classification (ASJC) codes

  • Communication
  • Computer Networks and Communications
  • Organizational Behavior and Human Resource Management
  • Management of Technology and Innovation

Keywords

  • Asymmetric strategic alliance
  • Behavioural game theory
  • Coasean bargaining
  • Coordination game
  • Entrepreneurship
  • Innovation
  • Nash equilibrium
  • Stag hunt game

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