between owners and managers who might have different incentives. To understand the degree to which misspecifying firms … maximization. Considering the US antitrust regime, the experiment sets up cartel fines for firms' managers as well as owners. I …) Managers are more likely to form cartels when managers' and owners' incentives are different compared to when their incentives …

In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different … contracts which determine their managers' salaries. One contract simply gives managers incentives to maximize firm profits … only rarely chosen in the experimental markets. This behavior is rational given that managers do not play according to the …

-researched field in the experimental oligopoly literature. We provide results from an experiment that varies the number of firms as … voluntary trading. We find that prices and profits are substantially higher in duopoly than in triopoly and with proportional …

participants deviate from expected behavior. In particular, it shows that managers selecting a team composition closer to the … managerial environments and illustrate potentially costly ways in which managers seek to simplify their decision …