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Robustness to strategic uncertainty in price competition

Andersson, Ola; Argenton, Cédric; Weibull, Jörgen W. - 2010

selects a unique Nash equilibrium price. This selection agrees with available experimental findings. …

Persistent link: https://www.econbiz.de/10010281422

Learning to Play Approximate Nash Equilibria in Games with Many Players

Cartwright, Edward - 2004

We illustrate one way in which a population of boundedly rational individuals can learn to play an approximate Nash equilibrium. Players are assumed to make strategy choices using a combination of imitation and innovation. We begin by looking at an imitation dynamic and provide conditions under...

Persistent link: https://www.econbiz.de/10011324955

Capacity Choice under Uncertainty with Product Differentiation

Behrens, Christiaan; Lijesen, Mark - 2012

This article analyses the capacity-then-price game for a duopoly market. We add to the literature by explicitly taking … product differentiation on equilibrium capacities, efficiency, and price dispersion. We identify a minimum degree of vertical … results in empirical research on price dispersion. …

Persistent link: https://www.econbiz.de/10010326472

Robustness to Strategic Uncertainty

Andersson, Ola; Argenton, Cédric; Weibull, Jörgen W. - 2012

In games with continuum strategy sets, we model a player's uncertainty about another player's strategy, as an atomless probability distribution over the other player's strategy set. We call a strategy profile (strictly) robust to strategic uncertainty if it is the limit, as uncertainty vanishes,...

Persistent link: https://www.econbiz.de/10010320409

Conformity and Bounded Rationality in Games with Many Players

Cartwright, Edward; Wooders, Myrna - 2003

Interpret a set of players all playing the same pure strategy and all with similar attributes as a society. Is it consistent with self interested behaviour for a population to organise itself into a relatively small number of societies? In a companion paper we characterised how large e must be,...

Persistent link: https://www.econbiz.de/10011325152

Advertising and Consumer Search in a Duopoly Model

Janssen, Maarten C.W.; Non, Mariëlle C. - 2005

We consider a duopoly in a homogenous goods market where part of the consumers are ex ante uninformed about prices. Information can come through two different channels: advertising and sequential consumer search. We arrive at the following results. First, there is no monotone relationship...

Persistent link: https://www.econbiz.de/10010325593

Specialized advertising and price competition in vertically differentiated markets

Esteban, Lola; Hernández, José M. - In: SERIEs - Journal of the Spanish Economic Association 2 (2011) 2, pp. 255-282

which incorporates some features of a monopoly, thus changing the pattern of price competition between the firms. In … increase in prices is more intense in highly competitive (low differentiated) markets, (3) the expected price of the low … expected price than the high-quality product. We also show that a progressive growth of specialized advertising vehicles leads …

Persistent link: https://www.econbiz.de/10010317117

Boundedly rational consumers, energy and investment literacy, and the display of information on household appliances

Blasch, Julia; Filippini, Massimo; Kumar, Nilkanth - 2016

It is an ongoing debate how to increase the adoption of energy-efficient light bulbs and household appliances in the presence of the so-called ’energy efficiency gap’. One measure to support consumers’ decision-making towards the purchase of more efficient appliances is the display of...

Persistent link: https://www.econbiz.de/10011753313

In Absolute or Relative Terms? How Framing Prices Affects the Consumer Price Sensitivity of Health Plan Choice

Schmitz, Hendrik; Ziebarth, Nicolas R. - 2011

This paper provides field evidence on (a) how price framing affects consumers' decision to switch health insurance … plans and (b) how the price elasticity of demand for health insurance can be influenced by policymakers through simple … health insurance companies to express price differences between health plans in absolute Euro values rather than percentage …

Persistent link: https://www.econbiz.de/10011601065

In absolute or relative terms? How framing prices affects the consumer price sensitivity of health plan choice

Schmitz, Hendrik; Ziebarth, Nicolas R. - 2011

Persistent link: https://www.econbiz.de/10010282513