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Imitation and the Evolution of Walrasian Behavior : Theoretically Fragile but Behaviorally Robust
Apesteguia, Jose - 2008
A well-known result by Vega-Redondo (1997) implies that in symmetric Cournot oligopoly, imitation leads to the … identical actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility …
Persistent link: https://www.econbiz.de/10012772613
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Merger Without Cost Advantages
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2021
making, information aspects of competition, or the imbeddedness of firm competition in a strategic trade competition game …
Persistent link: https://www.econbiz.de/10013318548
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Imitation and the Evolution of Walrasian Behavior: Theoretically Fragile but Behaviorally Robust
Apesteguia, Jose; Huck, Steffen; Oechssler, Jörg; … - CESifo - 2008
A well-known result by Vega-Redondo (1997) implies that in symmetric Cournot oligopoly, imitation leads to the … identical actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility …
Persistent link: https://www.econbiz.de/10005196312
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Information Frictions and Market Power : A Laboratory Study
Bayona, Anna - 2020
In a laboratory experiment with supply function competition and private information about correlated costs we study …
Persistent link: https://www.econbiz.de/10012855218
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Self-Allocation in Contests
Bernergard, Axel - 2017
maximizes aggregate equilibrium effort. For a class of oligopoly models that are equivalent to contests, this implies output …
Persistent link: https://www.econbiz.de/10012947451
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Taxation and Market Power
Konrad, Kai A. - 2010
We analyze the incidence and welfare effects of unit sales taxes in experimental monopoly and Bertrand markets. We find, in line with economic theory, that firms with no market power are able to shift a high share of a tax burden on to consumers, independent of whether buyers are automated or...
Persistent link: https://www.econbiz.de/10013149368
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Price vs. Quantity Competition in a Vertically Related Market Revisited
Basak, Debasmita - 2017
In a recent paper, Alipranti et al. (2014, Price vs. quantity competition in a vertically related market, Economics Letters, 124: 122-126) show that in a vertically related market Cournot competition yields higher social welfare compared to Bertrand competition if the upstream firm subsidises...
Persistent link: https://www.econbiz.de/10012965632
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Vertical Integration and Downstream Collusion
Biancini, Sara - 2016
We investigate the effect of a vertical merger on downstream firms' ability to collude in a repeated game framework. We show that a vertical merger has two main effects. On the one hand, it increases the total collusive profits, increasing the stakes of collusion. On the other hand, it creates...
Persistent link: https://www.econbiz.de/10012987391
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Alternative Objectives in an Oligopoly Model : An Aggregative Game Approach
Cornes, Richard; Itaya, Jun-ichi - 2021
power. Examples include the labor-managed firm, mixed oligopoly, and delegation models. These models typically retain the …
Persistent link: https://www.econbiz.de/10013315476
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Imitation - Theory and Experimental Evidence
Alpesteguia, Jose; Huck, Steffen; Oechssler, Jörg - CESifo - 2003
We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous … experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to …. In alaboratory experiment we test the different theories by systematically varying informationconditions. We find that …
Persistent link: https://www.econbiz.de/10005196313