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 …

We examine cost-reducing investment in vertically-related oligopolies, where firms may be vertically integrated or …. (ii) Vertical integration increases own investment and decreases competitor investment. (iii) Firms may integrate …

overinvestment both relative to the mixed-strategy equilibrium and the social optimum. -- All-pay auctions ; oligopoly ; investment … on own effort and negatively on the effort of competitors. Such auctions arise naturally in the context of investment … the strategic situation of a two-stage game with investment preceding homogenous Bertrand competition. We obtain …