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Tacit collusion under fairness and reciprocity

İriş, Doruk; Santos-Pinto, Luís - In: Games 4 (2013) 1, pp. 50-65

This paper departs from the standard profit-maximizing model of firm behavior by assuming that firms are motivated in part by personal animosity–or respect–towards their competitors. A reciprocal firm responds to unkind behavior of rivals with unkind actions (negative reciprocity), while at...

Persistent link: https://www.econbiz.de/10009753710

Self-reinforcing market dominance

Halbheer, Daniel; Fehr, Ernst; Götte, Lorenz; … - 2007

Are initial competitive advantages self-reinforcing, so that markets exhibit an endogenous tendency to be dominated by only a few firms? Although this question is of great economic importance, no systematic empirical study has yet addressed it. Therefore, we examine experimentally whether firms...

Persistent link: https://www.econbiz.de/10003892448

Bertrand-Edgeworth markets with increasing marginal costs and voluntary trading : experimental evidence

Jacobs, Martin; Requate, Tilman - 2016

Price competition with increasing marginal costs, though relevant for many markets, appears as an under-researched field in the experimental oligopoly literature. We provide results from an experiment that varies the number of firms as well as the demand rationing and matching schemes in...

Persistent link: https://www.econbiz.de/10011411148

Number of firms, rationing, matching, and knowledge : a comprehensive study of variations in experimental Kreps-Scheinkman markets

Jacobs, Martin - 2016

This study provides a comprehensive picture of experimental Kreps-Scheinkman markets with capacity choice in the first stage and subsequent price competition at the second. We conduct seven different treatments of such markets, varying the number of firms, the demand rationing scheme, the...

Persistent link: https://www.econbiz.de/10011411149

Demand rationing in Bertrand-Edgeworth markets with fixed capacities : an experiment

Jacobs, Martin; Requate, Tilman - 2016

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...

Persistent link: https://www.econbiz.de/10011411150

Collusion in growing and shrinking markets : empirical evidence from experimental duopolies

Abbink, Klaus (contributor); Brandts, Jordi (contributor) - 2005

We study collusive behaviour in experimental duopolies that compete in prices under dynamic demand conditions. In one treatment the demand grows at a constant rate. In the other treatment the demand declines at another constant rate. The rates are chosen so that the evolution of the demand in...

Persistent link: https://www.econbiz.de/10002626552

Price Competition Under Cost Uncertainty : A Laboratory Analysis

Abbink, Klaus; Brandts, Jordi - 2003

We study the relation between the number of firms and price-cost margins under price competition with uncertainty about competitors' costs. We present results of an experiment in which two, three and four identical firms repeatedly interact in this environment. In line with the theoretical...

Persistent link: https://www.econbiz.de/10014094478

We are not alone : the impact of externalities on public good provision

Engel, Christoph; Rockenbach, Bettina - 2009

Providing public goods is hard, because providers are best off free-riding. Is it even harder if one group's public good is a public bad for another group or, conversely, gives the latter a windfall profit? We experimentally study public goods provision embedded in a social context and find that...

Persistent link: https://www.econbiz.de/10003877140

Rich meets poor : an international fairness experiment

Cappelen, Alexander W.; Moene, Karl Ove; Sørensen, Erik Ø. - 2008

conducted a real effort fairness experiment where people in two of the world's richest countries, Norway and Germany, interacted …

Persistent link: https://www.econbiz.de/10011377115

Negative reciprocity and the interaction of emotions and fairness norms

Reuben, Ernesto; Winden, Frans A. A. M. van - 2005

fairness perceptions affect the reaction to punishment and whether this effect is consistent across repeated play and role … behavior depending on their fairness perceptions, their experienced emotions, and their interaction with responders. We find … that fairness plays an important role in the behavior of proposers. Specifically, deviations from a perceived fairness norm …

Persistent link: https://www.econbiz.de/10011343297

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