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Capacity choices and price competition in experimental markets
Anderhub, Vital; Güth, Werner; Kamecke, Ulrich; … - 2001
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 …
Persistent link: https://www.econbiz.de/10009612564
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Through trial & error to collusion
Huck, Steffen; Oechssler, Joerg; Normann, Hans-Theo - 1999
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any …
Persistent link: https://www.econbiz.de/10009580461
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Simultaneous and sequential price competition in heterogeneous duopoly markets : experimental evidence
Kübler, Dorothea; Müller, Wieland - 2001
, just as predicted by the theory, whereas average follower prices are not above average prices in the simultaneous market … simultaneous-move markets whereas first movers do not. As in theory, there is a significant first-mover disadvantage when firms …
Persistent link: https://www.econbiz.de/10009617949
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Evolutionary dynamics on infinite strategy spaces
Oechssler, Joerg; Riedel, Frank - 1998
. Finally, we apply this general theory to a number of applications like the Nash demand game, the War of Attrition, Cournot and … Bertrand oligopoly games, and mixed strategies. -- replicator dynamics ; evolutionary stability ; continuous strategy spaces … ; oligopoly …
Persistent link: https://www.econbiz.de/10009578001
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Divisionalization in contests
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000
To be represented by more than one contestant in a contest has advantages and disadvantages. This paper determines the conditions under which it is favorable to send several agents into the contest. -- contests ; Divisionalization ; delegation
Persistent link: https://www.econbiz.de/10009582389
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Learning to bid : an experimental study of bid function adjustments in auctions and fair division games
Güth, Werner; Ivanova-Stenzel, Radosveta; Königstein, … - 1999
sequencing structure of game types, game rules do matter, and directional learning theory offers a partial explanation for bid …
Persistent link: https://www.econbiz.de/10009581102
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Robust learning experiments : evidence for learning and deliberation
Güth, Werner - 2000
Robust learning experiments confront participants with structurally different decision environments which they encounter, furthermore, repeatedly. Since the decision format does not depend on the rules (of game), forward looking deliberation (the shadow of the future) can be detected by...
Persistent link: https://www.econbiz.de/10009612041
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Limited depth of reasoning and failure of cascade formation in the laboratory
Kübler, Dorothea; Weizsäcker, Georg - 2000
We examine the robustness of information cascades in laboratory experiments. Apart from the situation in which each player can obtain a signal for free (as in the experiment by Anderson and Holt, 1997, American Economic Review), the case of costly signals is studied where players decide whether...
Persistent link: https://www.econbiz.de/10009612571
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The congruence of theoretical and empirical patterns of inter-store price competition
Klapper, Daniel; Cooper, Lee G.; Hildebrandt, Lutz - 1999
Research ; Game Theory ; Price Competition among Manufacturers and Retailers ; Empirical Industrial Organization …
Persistent link: https://www.econbiz.de/10009580471
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Private information, risk aversion, and the evolution of market research
Güth, Sandra; Güth, Werner; Müller, Wieland - 2000
On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only …. -- evolution ; oligopoly ; market research ; private information …
Persistent link: https://www.econbiz.de/10009612010