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Haucap, Justus; Heldman, Christina; Rau, Holger Andreas - 2022

Many cartels are formed by individual managers of different firms, but not by firms as collectives. However, most of the literature in industrial economics neglects individuals’ incentives to form cartels. Although oligopoly experiments reveal important insights on individuals acting as firms,...

Persistent link: https://www.econbiz.de/10013296722

Imitation and the evolution of Walrasian behavior: theoretically fragile but behaviorally robust

Apesteguia, José; Huck, Steffen; Oechssler, Jörg; … - 2008

A well-known result by Vega-Redondo (1997) implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian outcome where price equals marginal cost. In this paper, we show that this result is not robust to the slightest asymmetry in fixed costs. Instead of obtaining the Walrasian...

Persistent link: https://www.econbiz.de/10010270592

Spin Doctors : A Model and an Experimental Investigation of Vague Disclosure

Deversi, Marvin - 2018

such positive spin? We use a theoretical model and a laboratory experiment to study the strategic use of vagueness in a … interval that contains her actual type. Theory predicts that when facing a possibly naive receiver, the sender discloses an … interval that separates her from worse types but is upwardly vague. Senders in the experiment adopt this strategy and some …

Persistent link: https://www.econbiz.de/10012908648

Institutions, Opportunism and Prosocial Behavior : Some Experimental Evidence

Cabrales, Antonio - 2020

prosocial behavior. We conduct a large-scale online experiment where we add the possibility of purchasing insurance to safeguard …

Persistent link: https://www.econbiz.de/10012832187

Coordination with Differential Time Preferences : Experimental Evidence

Agranov, Marina; Kim, Jeongbin; Yariv, Leeat - 2023

The experimental literature on repeated games has largely focused on settings where players discount the future identically. In applications, however, interactions often occur between players whose time preferences differ. We study experimentally the effects of discounting differentials in...

Persistent link: https://www.econbiz.de/10014348138

Are Groups More Rational than Individuals? A Review of Interactive Decision Making in Groups

Kugler, Tamar - 2012

Many decisions are interactive; the outcome of one party depends not only on its decisions or on acts of nature but also on the decisions of others. In the present article, we review the literature on decision making made by groups of the past 25 years. Researchers have compared the strategic...

Persistent link: https://www.econbiz.de/10013111990

How Communication Makes the Difference between a Cartel and Tacit Collusion : A Machine Learning Approach

Andres, Maximilian; Bruttel, Lisa; Friedrichsen, Jana - 2022

-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit …

Persistent link: https://www.econbiz.de/10014243096

Preferential Trade Liberalization with Endogenous Cartel Discipline : Implications for Welfare and Optimal Trade Policies

Agnosteva, Delina - 2020

We consider an international cartel whose members interact repeatedly in their own as well as in third-country segmented markets. Cartel discipline-an inverse measure of the degree of competition between firms-is endogenously determined by the cartel's incentive compatibility constraint (ICC),...

Persistent link: https://www.econbiz.de/10012822505

Welfare-Enhancing Trade Unions in an Oligopoly with Excessive Entry

de Pinto, Marco - 2019

Trade unions are often argued to cause allocative inefficiencies and to lower welfare. We analyze whether this evaluation is also justified in a Cournot-oligopoly with free but costly entry. If input markets are competitive and output per firm declines with the number of firms (business...

Persistent link: https://www.econbiz.de/10012866378

Exclusive Data, Price Manipulation and Market Leadership

Gu, Yiquan - 2019

The unprecedented access of firms to consumer level data not only facilitates more precisely targeted individual pricing but also alters firms' strategic incentives. We show that exclusive access to a list of consumers can provide incentives for a firm to endogenously assume the price leader's...

Persistent link: https://www.econbiz.de/10012861421

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