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In many intermediate goods markets buyers and sellers both have market power. Contracts are usually long-term and negotiated bilaterally, codifying many elements in addition to price. We model such bilateral oligopolies as a set of simultaneous Rubinstein-Ståhl bargainings over contracts...
Persistent link: https://www.econbiz.de/10005772912
In this paper I set forth an antitrust remedy for the oligopolistic pricing problem. Oligopoly pricing resembles a repeated prisoners' dilemma game. Each firm has an incentive to moderately lower its price and thus increase its sales at its competitors' expense. However, each firm knows that its...
Persistent link: https://www.econbiz.de/10014049971
focus on communication strategy that government uses to communicate private information to the citizens. This communication … execute a communication strategy does affect the efficiency of the equilibrium convergence process and also demonstrate that … subjects playing the role of the government exhibit a great deal of sophistication in the communication strategies they employ …
Persistent link: https://www.econbiz.de/10011056200
bargainers to communicate prior to each stage. A test finds that communication does in fact increase efficiency, although … unevenly, and at the cost of the builder. The study implies that the nature and pattern of communication among bargainers is a …
Persistent link: https://www.econbiz.de/10005765387
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games with costless communication. CMR is a non-equilibrium theory combining rationalizability with the idea that players …
Persistent link: https://www.econbiz.de/10011576913
We study the interaction of the effects of the strategic environment and communication on the observed levels of … substitutes disappears. A machine-assisted natural language processing approach shows how the content of communication is …
Persistent link: https://www.econbiz.de/10012846843
free-form pre-play communication. I focus on players who verbally first suggest cooperation in each game. I study …
Persistent link: https://www.econbiz.de/10013032746
Communication has been shown to play a positive role in promoting trust, yet there is no evidence on how sensitive this …. Moreover, communication increases the trustor's beliefs on the amount that the trustee will choose to transfer, only when this …
Persistent link: https://www.econbiz.de/10012900477