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-researched field in the experimental oligopoly literature. We provide results from an experiment that varies the number of firms as … voluntary trading. We find that prices and profits are substantially higher in duopoly than in triopoly and with proportional …
Persistent link: https://www.econbiz.de/10011411148
This study provides a comprehensive picture of experimental Kreps-Scheinkman markets with capacity choice in the first stage and subsequent price competition at the second. We conduct seven different treatments of such markets, varying the number of firms, the demand rationing scheme, the...
Persistent link: https://www.econbiz.de/10011411149
This study is the first to investigate the effect of demand rationing in experimental Bertrand-Edgeworth markets with fixed exogenous capacities. It is found that prices and profits are significantly higher under proportional than under efficient demand rationing. Moreover, the amount of...
Persistent link: https://www.econbiz.de/10011411150
We investigate the possibility of using public firms to regulate polluting emissions in a Cournot oligopoly where …
Persistent link: https://www.econbiz.de/10011737230
duopoly where firms compete in two spatially separated markets. We show that firms always have nonnegative incentives to … elektronische Koordination und in verstärkte Produktdifferenzierung in einem Duopol mit räumlich getrennten Märkten. Wir zeigen …
Persistent link: https://www.econbiz.de/10001736217
It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...
Persistent link: https://www.econbiz.de/10014184323
We compare an n-firm Cournot model with a Stackelberg model, where n-firms choose outputs sequentially, in a stochastic demand environment with private information. The expected total output, consumer surplus, and total surplus are lower, while expected price and total profits are higher in...
Persistent link: https://www.econbiz.de/10014113171
It is a very well-known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly …. Contrary to Tanaka (1999) we show that the evolutionarily stable price in an asymmetric Cournot oligopoly needs not equal the … order to transform the game with asymmetric firms into a symmetric oligopoly game and then extend Schaffer's definition …
Persistent link: https://www.econbiz.de/10013028699
This paper investigates the existence of strong Nash equilibria (SNE) in Cournot and Bertrand oligopoly models. Given …
Persistent link: https://www.econbiz.de/10012987974
In this paper we investigate a two-period Bertrand-Edgeworth oligopoly model in which two capacity-constrained firms …
Persistent link: https://www.econbiz.de/10013226891