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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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higher payoffs in the game when the talk is one-way as the truthful reports facilitate desired coordination. …
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talk is one-way as the truthful reports facilitate desired coordination. …
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uncertainty in the framework of a 2x2 coordination game, in which one choice leads to the same payoff regardless of the action of … the other person's play. Cheap talk is found to be effective, as there is much more coordination in both Signal treatments … coordination when messages are permitted. However, in the No Signal treatments, the round-to-round changes in choices induced by …
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public affairs. To systematically explore the impact of transparency and accountability on cooperation, we conduct a series …
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fundamental, properties in graph theory allow us to interpret the variation in the patterns of behavior that arise in the …
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