We investigate the role tacit collusion plays in Asymmetric Price Transmission (APT), the tendency of prices to respond more rapidly to positive than to negative cost shocks. Using a laboratory experiment that isolates the effects of tacit collusion, we observe APT pricing behavior in markets...

We present a model that demonstrates the evolution of groups composed of cooperative individuals performing specialised functions. Specialisation and cooperation results from an evolutionary process in which selection and reproduction is based on individual fitness. Specialists come to help...

In December 2009 the EU Council adopted a Council Recommendation on seasonal influenza vaccination. The Recommendation asks that concerted action be taken at the level of the European Union to mitigate the impact of seasonal influenza by encouraging vaccination among risk groups and healthcare...

We investigate asymmetric price transmission (APT) in laboratory experiments and find that imperfect tacit collusion is likely the cause in our otherwise frictionless markets. We vary the number of sellers across markets to evaluate the role competition plays in APT. We report similar magnitudes...

We use a laboratory experiment to study how mutual payoff information affects play in strategic settings. Subjects play the Prisoner's Dilemma or Stag Hunt game against randomly re-matched opponents under two information treatments. In our partial-information treatment subjects are shown only...