Capra, C. Monica; Goeree, Jacob K.; Gomez, Rosario; … - 2003
We consider a duopoly pricing game with a unique Bertrand-Nash equilibrium. The high-price firm has a nonvanishing … logit equilibrium model was used to design an experiment in which the high-price firm's market share varies. The model … accurately predicts the final-period price averages. A naive learning model predicts the observed differences in the time paths …