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“Winners take all competition”, creative destruction and stock market bubble

Boucher, Christophe - EconWPA - 2003

From the model of Hobijn and Jovanovic (2001), we modelize a technological shock with uncertainty. We assume that this … technological shock appears in the shape of new firms. Only a part of these firms will be productive. Uncertainty relates to the … identification of the viable firms. This uncertainty decreases with the time and the diffusion of fundamentalist information that …

Persistent link: https://www.econbiz.de/10005561579

Advertising, Pricing & Market Structure in Competitive Matching Markets

Bataille, Edner; Julien, Benoit - EconWPA - 2005

This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers …

Persistent link: https://www.econbiz.de/10005076903

Imitation - Theory and Experimental Evidence

Apesteguia, Jose; Huck, Steffen; Oechssler, Jorg - EconWPA - 2003

We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different...

Persistent link: https://www.econbiz.de/10005125578

Rage Against the Machines: How Subjects Learn to Play Against Computers

Duersch, Peter; Kolb, Albert; Oechssler, Joerg; … - EconWPA - 2005

traced to the different incentives structures rather than the experimental environment. …

Persistent link: https://www.econbiz.de/10005407609

To commit or not to commit: Endogenous timing in experimental duopoly markets

Huck, Steffen; Müller, Wieland; Normann, Hans-Theo - EconWPA - 1999

In this paper, we experimentally investigate the extended game with action commitment of Hamilton and Slutsky (1990). In their duopoly game, firms can choose their quantities in one of two periods before the market clears. If a firm commits to a quantity in period 1 it does not know whether the...

Persistent link: https://www.econbiz.de/10005408230

Information Acquisition in Cournot Markets: An (enhanced) two- Stage Approach

Catilina, Eliane - EconWPA - 2002

This paper presents an alternative or enhanced approach to information acquisition in Cournot markets with stochastic demand in which the cost of information acquisition is endogenously determined by firms\222 information purchasing strategy. I propose a two-stage model in which in the first...

Persistent link: https://www.econbiz.de/10005550939

Evolutionary Stability of Constant Consistent Conjectures

Possajennikov, Alex - EconWPA - 2004

The paper shows that there is a close connection between (constant) consistent conjectures in a given game and evolutionary stability of conjectures. Evolutionarily stable conjectures are consistent and consistent conjectures are the only interior candidates for evolutionary stability.

Persistent link: https://www.econbiz.de/10005118524

Endogenous Timing in a Mixed Oligopoly with Foreign Competitors

Lu, Yuanzhu - EconWPA - 2005

Endogenous order of moves in quantity choice is analyzed in a mixed oligopoly with one public firm, n domestic private firms and m foreign private firms. We consider the observable delay game of Hamilton and Slutsky (1990) in the context of a quantity setting mixed oligopoly where firms first...

Persistent link: https://www.econbiz.de/10005561458

Can Rivalry Increase Prices?

Roessler, Christian - EconWPA - 2005

Spatially differentiated duopolists set higher-than-monopoly prices at some distances. This phenomenon is shown to occur in any finite- dimensional space for a class of reservation prices that covers concavity and convexity in perceived distance from a design. But an upper bound on the...

Persistent link: https://www.econbiz.de/10005561854

Equilibrium PLay and Best Response to (Stated) Beliefs in Constant Sum Games

Biel, Pedro Rey - EconWPA - 2005

In a laboratory experiment, subjects played ten two-person 3x3 constant sum games and stated beliefs about the frequencies of play by their opponents. Contrary to previous experimental evidence, game-theoretical predictions work well: 80% of actions coincided with Nash equilibrium, subjects were...

Persistent link: https://www.econbiz.de/10005125558

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