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 …

In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any …

In the heterogeneous experimental oligopoly markets of this paper, sellers first choose capacities and then prices. In … setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …

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

In theory, the incidence of a tax should be independent of which side of the market it is levied on. This principle of …