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laboratory experiment we test the different theories by systematically varying information conditions. We find significant …
Persistent link: https://www.econbiz.de/10010366552
. In alaboratory experiment we test the different theories by systematically varying informationconditions. We find that …
Persistent link: https://www.econbiz.de/10011509505
We report on an experiment designed to study a dynamic model of quantity competition where firms continuously revise …
Persistent link: https://www.econbiz.de/10014122747
We conduct a series of Cournot duopoly market experiments with a high number of repetitions and fixed matching. Our treatments include markets with (a) complete cost symmetry and complete information, (b) slight cost asymmetry and complete information, and (c) varying cost asymmetries and...
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 treatments include markets with (a) complete cost symmetry and complete information, (b) slight cost asymmetry and complete information, and (c) varying cost asymmetries and...
Persistent link: https://www.econbiz.de/10014487322
theoretical framework and derive two algorithms that recommend collusive pricing strategies. Utilizing a laboratory experiment, we …
Persistent link: https://www.econbiz.de/10014442786
The paper presents the concept of an imitation equilibrium and explores it in the context of some simple oligopoly models. The concept applies to normal form games enriched by a reference structure specifying a reference group for every player. The reference group is a set of other players, whom...
Persistent link: https://www.econbiz.de/10011538885
, theory even predicts that strategic interaction forces firms to set the market clearing price. For society, this would be … oligopoly as a linear public good. -- Cartel ; Oligopoly ; Bertrand ; Cournot ; Public Good ; Externality ; Experiment …
Persistent link: https://www.econbiz.de/10003877116
effects on product market competition. We test their model in a duopoly experiment under both, Bertrand and Cournot … competition. We find that leverage has strategic effects, but those effects are much weaker than predicted by theory. Specifically … predicted by theory. It appears that subjects recognize the strategic effects of their own debt. However, they do not (want to …
Persistent link: https://www.econbiz.de/10011539878
The classical price competition model (named after Bertrand), prescribes that in equilibrium prices are equal to marginal costs. Moreover, prices do not depend on the number of competitors. Since this outcome is not in line with real-life observations, it is known as the Bertrand Paradox. Many...
Persistent link: https://www.econbiz.de/10011587852