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This paper proposes a quantal response learning model to explain sellers' pricing and learning behaviour observed in a laboratory Bertrand market experiment. In the model, sellers hold beliefs about their opponents' strategies and play quantal best responses to these beliefs. After each round,...
Persistent link: https://www.econbiz.de/10011193737
This paper studies the pure framing effect of price discounts, focusing on its impact on consumer search behavior. In a simple two-shop search experiment, we compare search behavior in base treatments (where both shops post net prices without discounts) to discount treatments (where either the...
Persistent link: https://www.econbiz.de/10010730000
We use a limited information environment to assess the role of confusion in the repeated voluntary contributions game. A comparison with play in a standard version of the game suggests, that the common claim that decision errors due to confused subjects biases estimates of cooperation upwards,...
Persistent link: https://www.econbiz.de/10010866253
This paper investigates multi-item moral hazard with auditing contests.s Although the presented model is widely applicable, we choose tax evasion as an exemplary application. We introduce a tax-evasion model where tax authority and taxpayer invest in detection and concealment. The taxpayers have...
Persistent link: https://www.econbiz.de/10005047208
In this study we investigate the impact of competition on markets for non-durable goods where intertemporal price discrimination is possible. We develop a simple model of different potential scenarios for intertemporal price discrimination and implement it in a laboratory experiment. We compare...
Persistent link: https://www.econbiz.de/10008507062
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We derive necessary and sufficient conditions for data sets composed of state-contingent prices and consumption to be consistent with two prominent models of decision making under uncertainty: variational preferences and smooth ambiguity. The revealed preference conditions for subjective...
Persistent link: https://www.econbiz.de/10009725525
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