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Satisficing in sales competition: experimental evidence

Berninghaus, Siegfried; Güth, Werner; Levati, M. Vittoria - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

In a stochastic duopoly market, sellers must form state-specific aspirationsexpressing how much they want to earn given their expectationsabout the other's behavior. We define individually and mutually satisficingsales behavior for given individual beliefs and aspiration profiles. In afirst...

Persistent link: https://www.econbiz.de/10005866647

Satisficing and prior-free optimality in price competition:a theoretical and experimental analysis

Güth, Werner; Levati, M. Vittoria; Ploner, Matteo - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008

On a heterogeneous experimental oligopoly market, sellers choose a price,specify a set-valued prior-free conjecture about the others' behavior, andform their own profit-aspiration for each element of their conjecture. Weformally define the concepts of satisficing and prior-free optimality...

Persistent link: https://www.econbiz.de/10005866446

Competition on Common Value Markets with Naive Traders– A Theoretical and Experimental Analysis

Chlaß, Nadine; Güth, Werner - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2007

Theoretically and experimentally, we generalize the analysis of acquiringa company (Samuelson and Bazerman 1985) by allowing for competition ofboth, buyers and sellers. Naivety of both is related to the idea that higherprices exclude worse qualities. While competition of naive buyers...

Persistent link: https://www.econbiz.de/10005866465

Membership Rule and Strategic Alliances:An Experimental Approach

Apesteguia, Jose; Pantz, Katinka; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004

Recently, new game theoretic approaches have been suggested that address the emergence of inter-firm collaborative agreements (strategic alliances) that are situated between standard market transactions of unrelated companies and their integration by means of mergers and acquisitions. This...

Persistent link: https://www.econbiz.de/10005866862

Asymmetric Information without Common Priors: An IndirectEvolutionary Analysis of Quantity Competition

Güth, Werner; Llorente Ervitib, Loreto; Ziegelmeyer, … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006

The common prior assumption justifies private beliefs as posterior probabilities when updatinga common prior based on individual information. Common priors are pervasive in most economicmodels of incomplete information and oligopoly models with asymmetrically informed firms. Wedispose of the...

Persistent link: https://www.econbiz.de/10005866639

Quantity Competition under Asymmetric Information withoutCommon Priors: An Indirect Evolutionary Approach

Güth, Werner; Llorente Erviti, Loreto; Ziegelmeyer, Anthony - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2004

The common prior assumption asserts that the beliefs of agents in different states of theworld are their posteriors based on a common prior and possibly some private signal. Commonpriors are pervasive in most economic models of incomplete information, oligopoly models withasymmetrically informed...

Persistent link: https://www.econbiz.de/10005866870

A Tool for Electronic Instructions in Laboratory Experiments

Schmelz, Katrin - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011

E-nstructions facilitates the use of electronic instructions in computerized laboratory ex-periments in social sciences. In this article I provide a set of guidelines for the installationand the use of E-nstructions.

Persistent link: https://www.econbiz.de/10009248895

The Provision of Public Goods with Positive GroupInterdependencies

Güth, Werner; Sääksvuori, Lauri - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2010

This article examines the nature of human behavior in a nested socialdilemma referred to as the Spillover Game. Players are divided into twogroups with positive production interdependencies. Based on theoreticallyderived opportunistic, local, and global optima, our experimental...

Persistent link: https://www.econbiz.de/10009022157

Leading by Words: A Voluntary Contribution ExperimentWith One-Way Communication

Koukoumelis, Anastasios; Levati, M. Vittoria; Weisser, … - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

In this paper, we study a voluntary contribution mechanism withone-way communication. The relevance of one person … mutual exchange ofpromises is necessary for the cooperation-enhancing effect of communication,we find that, compared to a … standard voluntary contributionmechanism with no communication, one-way communication significantlyincreases contributions and …

Persistent link: https://www.econbiz.de/10009022164

Voluntary contributions with risky and uncertain marginalreturns: the importance of the minimal value

Levati, Maria Vittoria; Morone, Andrea - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2009

Previous research indicates that risky and uncertain marginal returnsfrom the public good significantly lower contributions. This paper presentsexperimental results illustrating that the effects of risk and uncertainty dependon the employed parameterization. Specifically, if the value of the...

Persistent link: https://www.econbiz.de/10005866390

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