Huck, Steffen; Normann, Hans-Theo; Oechssler, Jörg - 2001
In this paper we investigate how the competitiveness of Cournot markets varies with the number of firms in an industry …. We review previous Cournot experiments in the literature. Additionally, we conduct a new series of experiments studying …-firm oligopolies tend to produce outputs at the Nash level. Markets with four or five firms are never collusive and typically settle at …