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Signaling in deterministic and stochastic settings
Jeitschko, Thomas D.; Normann, Hans-Theo - Düsseldorf Institute for Competition Economics (DICE), … - 2011
We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: In the stochastic variant, there is more signaling behavior than with …
Persistent link: https://www.econbiz.de/10009368116
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Signaling in deterministic and stochastic settings
Jeitschko, Thomas D.; Normann, Hans-Theo - In: Journal of Economic Behavior & Organization 82 (2012) 1, pp. 39-55
We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: in the stochastic variant, there is more signaling behavior than with …
Persistent link: https://www.econbiz.de/10010573055
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Signaling in deterministic and stochastic settings
Jeitschko, Thomas D.; Normann, Hans-Theo - 2011
We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: In the stochastic variant, there is more signaling behavior than with …
Persistent link: https://www.econbiz.de/10010307240
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Signaling in deterministic and stochastic settings
Jeitschko, Thomas D.; Normann, Hans-Theo - 2011
We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: In the stochastic variant, there is more signaling behavior than with …
Persistent link: https://www.econbiz.de/10009355251
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Signalling in Deterministic and Stochastic Settings : A Theoretical and Experimental Investigation
Jeitschko, Thomas D.; Normann, Hans-Theo - 2013
We contrast a standard deterministic signaling game with a variant where the signal-generating mechanism is subject to … separating and has intuitive comparative-static properties in that the degree of signaling is a function of the prior …
Persistent link: https://www.econbiz.de/10014046412
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Signaling in Deterministic and Stochastic Settings
Jeitschko, Thomas D.; Normann, Hans-Theo - Department of Economics, Royal Holloway University of London - 2009
We contrast a standard deterministic signaling game with one where the signal-generating mechanism is stochastic. With … degree of signaling depends on the prior type distribution. With deterministic signals both pooling and separating … configurations occur. Laboratory data support the theory: In the stochastic variant, there is more signaling behavior than with …
Persistent link: https://www.econbiz.de/10008509455
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Explicit vs. tacit collusion—The impact of communication in oligopoly experiments
Fonseca, Miguel A.; Normann, Hans-Theo - In: European Economic Review 56 (2012) 8, pp. 1759-1772
We explore the difference between explicit and tacit collusion by investigating the impact communication has in experimental markets. For Bertrand oligopolies with various numbers of firms, we compare pricing behavior with and without the possibility to communicate among firms. We find strong...
Persistent link: https://www.econbiz.de/10011048634
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Endogenous cartel formation: Experimental evidence
Fonseca, Miguel A.; Normann, Hans-Theo - In: Economics Letters 125 (2014) 2, pp. 223-225
In a Bertrand-oligopoly experiment, firms choose whether or not to engage in cartel-like communication and, if so, they may get fined by a cartel authority. We find that the four-firm industries form cartels more often than the duopolies because they gain less from a hysteresis effect after...
Persistent link: https://www.econbiz.de/10011076534
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Do buyer groups facilitate collusion?
Normann, Hans-Theo; Rösch, Jürgen; Schultz, Luis Manuel - In: Journal of Economic Behavior & Organization 109 (2015) C, pp. 72-84
We explore whether lawful cooperation in buyer groups facilitates collusion in the product market. Buyer groups purchase inputs more economically. In a repeated game, abandoning the buyer group altogether or excluding single firms constitute credible threats. Hence, in theory, buyer groups...
Persistent link: https://www.econbiz.de/10011190130
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Explicit vs. tacit collusion: The impact of communication in oligopoly experiments
Fonseca, Miguel A.; Normann, Hans-Theo - Düsseldorf Institute for Competition Economics (DICE), … - 2012
We explore the difference between explicit and tacit collusion by investigating the impact communication has in experimental markets. For Bertrand oligopolies with various numbers of firms, we compare pricing behavior with and without the possibility to communicate among firms. We find strong...
Persistent link: https://www.econbiz.de/10010956703