Showing 1 - 10 of 101
.e., a turnaround. We compare communication from leaders to incentive increases and also compare the effectiveness of … randomly selected and elected leaders. While all interventions yield shifts to more efficient equilibria, communication from …
Persistent link: https://www.econbiz.de/10010836458
We investigate experimentally whether preferences over an outcome depend on what other possible outcomes of the situation under consideration are, i.e. whether choices are "menu dependent". In simple sequential games we analyze whether reactions to a certain benchmark oucome are influenced by...
Persistent link: https://www.econbiz.de/10005168500
managerial intervention subjects invariably slip into coordination failure. To overcome a history of coordination failure …, managers have two instruments at their disposal, increasing employees' financial incentives to coordinate and communication … with employees. We find that communication is a more effective tool than incentive changes for leading organizations out of …
Persistent link: https://www.econbiz.de/10005168429
We present a model of learning in which agents learn from errors. If an action turns out to be an error, the agent rejects not only that action but also neighboring actions. We find that, keepng memory of his errors, under mild assumptions an acceptable solution is asymptotically reached....
Persistent link: https://www.econbiz.de/10005572182
We study the relation between the number of firms and price-cost margins under price competition with uncertainty about competitors' costs. We present results of an experiment in which two, three and four identical firms repeatedly interact in this environment. In line with the theoretical...
Persistent link: https://www.econbiz.de/10005572192
We study competition in experimental markets in which two incumbents face entry by three other firms. Our treatments vary with respect to three factors: sequential vs. block or simultaneous entry, the cost functions of entrants and the amount of time during which incumbents are protected from...
Persistent link: https://www.econbiz.de/10005572203
We study the relation between the number of firms and market power in experimental oligopolies. Price competition under decreasing returns involves a wide interval of pure strategy equilibrium prices. We present results of an experiment in which two, three and four identical firms repeatedly...
Persistent link: https://www.econbiz.de/10005582603
In this paper we explore the effect of bounded rationality on the convergence of individual behavior toward equilibrium. In the context of a Cournot game with a unique and symmetric Nash equilibrium, firms are modeled as adaptive economic agents through a genetic algorithm. Computational...
Persistent link: https://www.econbiz.de/10005582606
We study collusive behaviour in experimental duopolies that compete in prices under dynamic demand conditions. In one treatment the demand grows at a constant rate. In the other treatment the demand declines at another constant rate. The rates are chosen so that the evolution of the demand in...
Persistent link: https://www.econbiz.de/10005168492
phase, the benefits of coordination are low relative to the cost of increased effort. Play in this initial phase typically … the benefits of coordination leads to improved coordination, but, surprisingly, large increases have no more impact than …
Persistent link: https://www.econbiz.de/10005582728