Huck, Steffen; Müller, Wieland; Normann, Hans-Theo - 1999
). In their duopoly game, firms can choose their quantities in one of two periods before the market clears. If a firm … leadership. Our data, however, does not confirm the theory. While Stackelberg equilibria are extremely rare we often observe … learn to behave in a reciprocal fashion over time, i.e., they learn to reward cooperation and to punish exploitation. …