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This article proposes a two-stage oligopoly model for the crude oil market. In a game of several Stackelberg leaders …
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-researched field in the experimental oligopoly literature. We provide results from an experiment that varies the number of firms as …
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stage and subsequent price competition at the second. We conduct seven different treatments of such markets, varying the … periods as subjects with low knowledge do in later periods after having gained experience. In all treatments conduct is …
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This study is the first to investigate the effect of demand rationing in experimental Bertrand-Edgeworth markets with fixed exogenous capacities. It is found that prices and profits are significantly higher under proportional than under efficient demand rationing. Moreover, the amount of...
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Within a simple model of homogeneous oligopoly, we show that the traditional ranking between Bertrand and Cournot …
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