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leadership. Our data, however, does not confirm the theory. While Stackelberg equilibria are extremely rare we often observe …
Persistent link: https://www.econbiz.de/10009580476
We report on an experiment designed to compare Stackelberg and Cournot duopoly markets with quantity competition. For …
Persistent link: https://www.econbiz.de/10009580482
In theory, the incidence of a tax should be independent of which side of the market it is levied on. This principle of …
Persistent link: https://www.econbiz.de/10009582390
In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different …, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is …
Persistent link: https://www.econbiz.de/10009583883
setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …
Persistent link: https://www.econbiz.de/10009612564
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of...
Persistent link: https://www.econbiz.de/10009580461