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We experimentally investigate four allocation mechanisms - all based on the fair division approach, with varying bid elicitation methods and price rules - in terms of their allocation efficiency, distributional effects, and regularities in individual bidding behavior. In a repeated design, an...
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For given product specifications by two competing firms the demand levels are determined by a randomly generated ideal composition of aspects. Firms can vary some demand. Although the product space is much too large to be explored systematically, we expect (and test for) rather reasonable...
Persistent link: https://www.econbiz.de/10005765188
We experimentally investigate four allocation mechanisms - all based on the fair division approach, with varying bid elicitation methods and price rules - in terms of their allocation efficiency, distributional effects, and regularities in individual bidding behavior. In a repeated design, an...
Persistent link: https://www.econbiz.de/10005090587
In an experimental setting, firms in a duopoly market engage in a patent tournament and compete for profit-enhancing product advancements. The firms generate income by matching exogenously defined demand preferences with an appropriately composed product portfolio of their own. Demand...
Persistent link: https://www.econbiz.de/10005105649
In an experimental setting, firms in a duopoly market engage in a patent tournament and compete for profit-enhancing product advancements. The firms generate income by matching exogenously defined demand preferences with an appropriately composed product portfolio of their own. Demand...
Persistent link: https://www.econbiz.de/10005247887
We experimentally explore individual and competitive search, and we test whether generally accepted principles of bounded rationality adequately explain observed search behavior. Subjects can, at a cost, employ screening and selection methods not only facilitating search but also directly...
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