contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is … only rarely chosen in the experimental markets. This behavior is rational given that managers do not play according to the …

On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only …. -- evolution ; oligopoly ; market research ; private information …

that are well known from game theory and evolutionary game theory to solve these games. For illustration we include two …

leadership. Our data, however, does not confirm the theory. While Stackelberg equilibria are extremely rare we often observe …

, just as predicted by the theory, whereas average follower prices are not above average prices in the simultaneous market … simultaneous-move markets whereas first movers do not. As in theory, there is a significant first-mover disadvantage when firms …