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We report the results of a series of experimental Bertrand duopolies where firms have convex costs. Theoretically, these duopolies are characterized by a multiplicity of Nash equilibria. Using a 2x2 design, we analyze price choices in symmetric and asymmetric markets under two information...
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investigate how the intensity of price competition and the level of customer information about past expert behavior infl uence … significantly higher under price competition than when prices are fi xed, as the price decline under a competitive-price regime … inhibits quality competition. More customer information does not necessarily reduce the level of fraud …
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