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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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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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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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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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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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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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Quantile-VaR is the wrong measure to quantify market risk for regulatory purposes
Jaschke, Stefan R. - 2001
Starting from the objective of banking supervision - to minimize the overall costs of banking to the general public - we show that the current standard of quantifying market risk is flawed. It is perfectly aligned with the interests of banks' shareholders and management, but not with the...
Persistent link: https://www.econbiz.de/10009614286
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The Cornish-Fisher-Expansion in the context of Delta - Gamma - Normal approximations
Jaschke, Stefan R. - 2001
Qualitative and quantitative properties of the Cornish-Fisher-Expansion in the context of Delta-Gamma-Normal approaches to the computation of Value at Risk are presented. Some qualitative deficiencies of the Cornish-Fisher-Expansion - the monotonicity of the distribution function as well as...
Persistent link: https://www.econbiz.de/10009614287