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This paper presents an experiment to test effects of sequential entry on stability of collusion in oligopoly markets …. Previous research suggests that the larger the number of firms, the harder it is to sustain collusion. We find that when groups … start off small and the entrant is informed about the history of her group, collusion is easier to sustain than in groups …
Persistent link: https://www.econbiz.de/10012713807
. We review previous Cournot experiments in the literature. Additionally, we conduct a new series of experiments studying … oligopolies with two, three, four, and five firms in a unified frame. With two firms we find some collusion. Three …
Persistent link: https://www.econbiz.de/10011539897
, limited to one entrant per period, or subject to an entry exam. We include two additional treatments that combine the two …
Persistent link: https://www.econbiz.de/10010402616
difference in average total outputs across data aggregation and information settings. However, we observe more collusion when …
Persistent link: https://www.econbiz.de/10010530643
We conduct a series of Cournot duopoly market experiments with a high number of repetitions and fixed matching. Our … information, our data confirm the well-known result that duopoly players achieve, on average, partial collusion. However, as soon …
Persistent link: https://www.econbiz.de/10013295651
We conduct a series of Cournot duopoly market experiments with a high number of repetitions and fixed matching. Our … information, our data confirm the well-known result that duopoly players achieve, on average, partial collusion. However, as soon …
Persistent link: https://www.econbiz.de/10014487322
to form cartels in Cournot markets. As in previous experiments, markets become very competitive when individualized …
Persistent link: https://www.econbiz.de/10010532614
We analyze the pricing behavior of firms when explicit partial cartels have formed in experimental markets through communication. Using a repeated, asymmetric capacity constraint price game, we show that, in line with theory, a partial cartel is sufficient to increase market prices for all...
Persistent link: https://www.econbiz.de/10011897162
experiments in contrast to analog experimental results on price-competition in the literature. …
Persistent link: https://www.econbiz.de/10010263110
We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious play, imitation, reinforcement learning, and a trial...
Persistent link: https://www.econbiz.de/10010263153