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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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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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Implementing efficient market structure
Grimm, Veronika; Riedel, Frank; Wolfstetter, Elmar - 2000
This article studies the design of optimal mechanisms to regulate entry in natural oligopoly markets, assuming the … oligopoly ; entry …
Persistent link: https://www.econbiz.de/10009583432
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Merger in contests
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000
Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be … profitable. The profitability depends on the post-merger contest structure, the discriminatory power of the contest and on the … number of contestants. -- contests ; merger …
Persistent link: https://www.econbiz.de/10009582395
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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
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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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Profitable horizontal mergers : a market structure-oriented view
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000
are linear. The results help to reconcile theory with various empirical findings on mergers. -- efficient hedging …
Persistent link: https://www.econbiz.de/10009583894
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Credit contagion and aggregate losses
Giesecke, Kay; Weber, Stefan - 2002
theory of interacting particle systems. We clarify the structure of the equilibrium joint rating distribution using ergodic … losses ; voter model ; Choquet theory ; ergodic decomposition ; re-scaling …
Persistent link: https://www.econbiz.de/10009627288
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On the evolution of power indices in collective bargaining
Berninghaus, Siegfried; Güth, Werner - 2000
Starting point of our (indirect) evolutionary analysis is the sequential bargaining model of Manning (1987) who distinguishes between trade union's power in initial wage and in later employment negotiations. By linking two such collective bargaining situations we can say which of the two...
Persistent link: https://www.econbiz.de/10009612014
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The third generation (UMTS) spectrum auction in Germany
Grimm, Veronika; Riedel, Frank; Wolfstetter, Elmar - 2001
was predominantly employed in Europe. -- auctions ; telecommunications ; industrial organization ; game theory …
Persistent link: https://www.econbiz.de/10009615427