carry out experiments for two-stage games, where R&D investment choices are followed by product market competition. As … predicted by theory, an increase in the number of firms from two to four reduces investments. However, a positive effect is … observed for a switch from Cournot to Bertrand, even though theory predicts a negative effect in the four-player case. This …

ii) the second best matrix, or the optimal investment in capacity given the current matrix. Finally, the numerical …

macroeconomic foundations to the classical theory of distribution. This paper examines the decentralised, competitive mechanism …