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The commitment effect in belief evolution
Gehring, Thomas; Güth, Werner; René Levínský - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2003
In this note we establish that rational demand expectations willtypically not evolve in an evolutionary model. In an evolutionarymodel beliefs act like a commitment device to more aggressive be-havior. This commitment effect has the same direction for strategicsubstitutes and complements and...
Persistent link: https://www.econbiz.de/10005866911
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Testing forbearance experimentally: Duopolistic competition of conglomerate firms
Güth, Werner; Häger, Kirsten; Kirchkamp, Oliver; … - 2010
.e., firms competing on multiple structurally unrelated markets, can effectively limit competition. Our more general analysis … effects of forbearance and repeated interaction. Surprisingly, conglomerate firms do not limit competition, they rather foster …
Persistent link: https://www.econbiz.de/10010269746
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Testing forbearance experimentally : duopolistic competition of conglomerate firms
Güth, Werner; Häger, Kirsten; Kirchkamp, Oliver; … - 2010
.e., firms competing on multiple structurally unrelated markets, can effectively limit competition. Our more general analysis … effects of forbearance and repeated interaction. Surprisingly, conglomerate firms do not limit competition, they rather foster … more cooperation in a partners than in a strangers matching. -- Experiment ; Forbearance ; Competition …
Persistent link: https://www.econbiz.de/10003980544
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Satisficing in sales competition : experimental evidence
Berninghaus, Siegfried; Güth, Werner; Levati, M. Vittoria - 2009
In a duopoly market, aspiration levels express how much sellers want to earn given their expectations about the other's behavior. We augment the sellers' decision task by eliciting their profit aspiration. In a first experimental phase, whenever satisficing is not possible, sales choices, point...
Persistent link: https://www.econbiz.de/10009734685
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Testing Forbearance Experimentally - Duopolistic Competition of Conglomerate Firms
Güth, Werner; Häger, Kirsten; Kirchkamp, Oliver; … - Wirtschaftswissenschaftliche Fakultät, … - 2010
.e., firms competing on multiple structurally unrelated markets, can effectively limit competition. Our more general analysis … effects of forbearance and repeated interaction. Surprisingly, conglomerate firms do not limit competition, they rather foster …
Persistent link: https://www.econbiz.de/10008466105
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Competition in product design: an experiment exploring innovation behavior
Cantner, Uwe; Güth, Werner; Nicklisch, Andreas; … - 2007
We experimentally investigate competition in innovation in a patent race scenario. Pairs of subjects compete as seller … competition as measured by sales shares, while for others no correlation is ascertained. Heterogeneity in individual risk …
Persistent link: https://www.econbiz.de/10010263789
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Competition in product design: An experiment exploring innovation behavior
Cantner, Uwe; Güth, Werner; Nicklisch, Andreas; … - Wirtschaftswissenschaftliche Fakultät, … - 2007
We experimentally investigate competition in innovation in a patent race scenario. Pairs of subjects compete as seller … competition as measured by sales shares, while for others no correlation is ascertained. Heterogeneity in individual risk …
Persistent link: https://www.econbiz.de/10005090501
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Voluntary cooperation based on equilibrium retribution: an experiment testing finite-horizon folk theorems
Bruttel, Lisa V.; Güth, Werner; Kamecke, Ulrich; … - 2009
Unlike previous attempts to implement cooperation in a prisoners' dilemma game with an infinite horizon in the laboratory, we focus on extended prisoners' dilemma games in which a second (pure strategy) equilibrium allows for voluntary cooperation in all but the last round. Our four main...
Persistent link: https://www.econbiz.de/10010266648
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Psychology and economics rather than psychology versus economics: cultural differences but no barriers!
Brandstätter, Hermann; Güth, Werner; Kliemt, Hartmut - 2008
During the last three decades the ascent of behavioral economics clearly helped to bring down artificial disciplinary boundaries between psychology and economics. Noting that behavioral economics seems still under the spell of the rational choice tradition and, indirectly, of behaviorism we...
Persistent link: https://www.econbiz.de/10010266656
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Do investors optimize, follow heuristics, or listen to experts?
Gehrig, Thomas P.; Güth, Werner; Levínský, René; … - 2008
. Surprisingly, clients do not always follow the recommendation. Competition among advisors reduces their fees as expected. …
Persistent link: https://www.econbiz.de/10010274010