General timing games with multiple players

We examine innovation in an n -player market-entry timing game with complete information and observable actions. In our novel multi-player setup, we allow for heterogeneous payoffs between players and leader payoff functions to be multi-peaked and non-monotonic, only requiring that followers’ payoffs are non-increasing with the time of the leader’s entry. We outline the conditions under which an n -player asymmetric game leads to standard second-mover advantage and preemption equilibria. In the