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Satisficing and prior-free optimality in price competition: a theoretical and experimental analysis

Güth, Werner; Levati, Maria Vittoria; Ploner, Matteo - 2008

On a heterogeneous experimental oligopoly market, sellers choose a price, specify a set-valued prior-free conjecture about the others' behavior, and form their own profit-aspiration for each element of their conjecture. We formally define the concepts of satisficing and prior-free optimality and...

Persistent link: https://www.econbiz.de/10010275038

Satisficing and prior-free optimality in price competition: a theoretical and experimental analysis

Güth, Werner; Levatia, M. Vittoria; Ploner, Matteo - Wirtschaftswissenschaftliche Fakultät, … - 2008

Persistent link: https://www.econbiz.de/10005090526

The location model with two periods of price competition

Webers, H.M. - Tilburg University, School of Economics and Management - 1994

In this paper we characterize the subgame perfect Nash equilibria of a location-then-price game where firms first choose locations and after that compete for prices in two subsequent periods. Locations are thus seen as long term commitments. There are two types of consumers, each with different...

Persistent link: https://www.econbiz.de/10011087127

Social Learning in Networks : Theory and Experiments

Mueller-Frank, Manuel - 2014

This paper presents a non-Bayesian model of social learning in networks in an environment with a finite set of actions …. We conduct a laboratory experiment in which participants play an urn-guessing game over several decision rounds while … from our experiment. The theoretical prediction differs sharply from the existing results in the Bayesian and non …

Persistent link: https://www.econbiz.de/10013062835

Examining spillovers between long and short repeated prisoner's dilemma games played in the laboratory

Arechar, Antonio A.; Kouchaki, Maryam; Rand, David G. - In: Games 9 (2018) 1/5, pp. 1-16

We had participants play two sets of repeated Prisoner’s Dilemma (RPD) games, one with a large continuation probability and the other with a small continuation probability, as well as Dictator Games (DGs) before and after the RPDs. We find that, regardless of which is RPD set is played first,...

Persistent link: https://www.econbiz.de/10011848339

Satisficing in sales competition: experimental evidence

Berninghaus, Siegfried; Werner G?th; Levati, M. Vittoria; … - Institut für Finanzwissenschaft, Fakultät für … - 2009

In a duopoly market, aspiration levels express how much sellers want to earn given their expectations about the other …

Persistent link: https://www.econbiz.de/10004965213

A Simple Model of Bertrand Duopoly with Noisy Prices

Kaminski, Bogumil; Latek, Maciej - Volkswirtschaftliche Fakultät, … - 2012

. Standard models and empirical experiments of markets with noise or price obfuscation show that it leads to higher prices …

Persistent link: https://www.econbiz.de/10011114430

Chapter 13. Population Games and Deterministic Evolutionary Dynamics

Sandholm, William H. - In: Handbook of game theory with economic applications : …, (pp. 703-778). 2015

Population games describe strategic interactions among large numbers of small, anonymous agents. Behavior in these games is typically modeled dynamically, with agents occasionally receiving opportunities to switch strategies, basing their choices on simple myopic rules called revision protocols...

Persistent link: https://www.econbiz.de/10014025446

Chapter 14. Diffusion, Strategic Interaction, and Social Structure

Jackson, Matthew O.; Yariv, Leeat - In: Handbook of social economics : volume 1, (pp. 645-678). 2011

We provide an overview and synthesis of the literature on how social networks influence behaviors, with a focus on diffusion. We discuss some highlights from the empirical literature on the impact of networks on behaviors and diffusion. We also discuss some of the more prominent models of...

Persistent link: https://www.econbiz.de/10014025689

When do firms exchange information?

Hornig, Stephan O. - 2000

This paper further develops the standard modelling of information exchange between firms in the presence of demand uncertainty which applies to firms in new industries and insecure regions or markets. We replace the normal distribution of the random variables, commonly used because of its...

Persistent link: https://www.econbiz.de/10010305097