Gillet, Joris; Schram, Arthur; Sonnemans, Joep - In: International Journal of Industrial Organization 29 (2011) 1, pp. 126-133
We experimentally investigate how the managerial decision-making process affects choices in a Bertrand pricing game with an opportunity to form non-binding cartels. To do so we compare the effects of three decision-making rules for the firm (decisions by CEOs, majority rule and consensus) to...