Cooper, David J.; Garvin, Susan; Kagel, John H. - In: RAND Journal of Economics 28 (1997) 4, pp. 662-683
In an experimental investigation of Milgrom and Roberts' (1992) model, play consistently converges to a unique equilibrium, providing evidence of sophisticated strategic behavior that the theory predicts. Play starts with monopolists at their myopic maxima, followed by an attempt to pool, and...