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Duopoly Experimentation
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Book Synopsis Experimental Duopoly Markets with Demand Inertia by : Claudia Keser
Download or read book Experimental Duopoly Markets with Demand Inertia written by Claudia Keser and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report portrays the results of experimental research on dynamic duopoly markets with demand inertia. Two methods of experimentation are studied: game-playing experiments where subjects interact spontaneously via computer terminals, and computer tournaments between strategies designed by subjects. The principal aim of this study is the understanding of boundedly rational decision making in the dynamic duopoly situation. 1. 1 Motivation The experiments examine a multistage duopoly game where prices in each period are the only decision variables. Sales depend on current prices and also on past sales (demand inertia). Applying the game-theoretic concept of subgame perfect equilibrium, the game is solved by backward induction. The result is a uniquely determined system of decision rules. However, we can hardly expect that human beings behave according to the equilibrium strategy of this game. It is unlikely that subjects are able to compute the equilibrium. And even if a subject is able to compute it, he might not make use of this knowledge. Only if he expects the others to behave according to the equilibrium, it is optimal for him to play the equilibrium strategy. We have evidence from several earlier experimental studies on oligopoly markets that, even in less complex oligopoly situations where the equilibrium solutions are very easy to compute, human behavior often is different from what is prescribed by normative theory. ! Normative theory is based on the concept of ideal rationality. However, human capabilities impose cognitive limits on rationality.
Book Synopsis Market Experimentation in a Dynamic Differentiated-goods Duopoly by : Godfrey Keller
Download or read book Market Experimentation in a Dynamic Differentiated-goods Duopoly written by Godfrey Keller and published by . This book was released on 1999 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Experimentation in a duopoly by : Arthur Fishman
Download or read book Experimentation in a duopoly written by Arthur Fishman and published by . This book was released on 1992 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Experimenting to Learn About Demand in Duopoly with Forward-Looking Consumers by : Francisco Ruiz-Aliseda
Download or read book Experimenting to Learn About Demand in Duopoly with Forward-Looking Consumers written by Francisco Ruiz-Aliseda and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a two-period model, I show that competition between two symmetric duopolists trying to learn about unknown features of demand results in an informationally suboptimal process. Because a firm's marginal return to price experimentation equals zero if the rival's price is matched in the first period, myopic symmetric pricing arises in equilibrium even though a firm's expected second-period profit attains a local minimum. Furthermore, forward-looking consumers suffer from ratcheting because their first-period purchase decisions partly reveal their preferences, which exacerbates the informational suboptimality of the firms' experimentation process without affecting their pricing. The role of firm asymmetries is also analyzed.
Book Synopsis Duopoly Experimentation by : M. Dolores Alepuz
Download or read book Duopoly Experimentation written by M. Dolores Alepuz and published by . This book was released on 1991 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis A Duopoly Experiment on Cooperative and Noncooperative R&D. by : Sigrid Suetens
Download or read book A Duopoly Experiment on Cooperative and Noncooperative R&D. written by Sigrid Suetens and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, an experimental environment to test theoretical predictions concerning R&D behavior of firms in duopoly with allowance for R&D spillovers is created. The design and hypotheses of the experiment are based on the well-known model of d Aspremont and Jacquemin in which R&D behavior of firms either competing or cooperating in R&D, is calculated. No difference in behavior between different spillover levels is found. Further, I find that irrespective of the technological spillover level, subjects do not always commit to an R&D contract, but if they commit to an R&D level in a binding contract, cooperative R&D levels are chosen. When subjects do not or cannot commit to a contract, the subgame perfect Nash equilibrium performs well in predicting R&D decisions.
Book Synopsis Antitrust Punishments in Experimental Duopoly Markets by : Owen B. Davis
Download or read book Antitrust Punishments in Experimental Duopoly Markets written by Owen B. Davis and published by ProQuest. This book was released on 2008 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the effects of adding antitrust punishment to the standard, symmetric duopoly game. Two different forms of punishment are assessed as acts of nature in a two-person infinite game. Experiments are run for one baseline group with no punishment and two treatment groups with different punishment regimes. The punishment regimes use fines that increase with profits. In the first treatment, the probability of punishment increases as the amount of profits earned in excess of Nash/Cournot profits increases. It creates an environment where Nash/Cournot behavior maximizes expected profits. The second treatment has a fixed probability of punishment, where low levels of tacit cooperation are less profitable than the Nash/Cournot solution to the game, but higher levels of cooperation yield expected profits greater than Nash/Cournot choices. The latter range of choices allows players to sustain collusion more easily than in the baseline model. The experimental results indicate that both types of punishment reduce collusion; subjects are unable to reach the relatively greater levels of cooperation supported by the second punishment regime. Generally, the threat of punishment increases coordination difficulties.
Book Synopsis Experimentation and Learning in a Differentiated-products Duopoly by : Joseph Emmett Harrington
Download or read book Experimentation and Learning in a Differentiated-products Duopoly written by Joseph Emmett Harrington and published by . This book was released on 1992 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Experimental Approach to Duopoly Under Price Variation by : Alan L. Parker
Download or read book An Experimental Approach to Duopoly Under Price Variation written by Alan L. Parker and published by . This book was released on with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Experimental Analysis of a Duopoly Situation from the Standpoint of Mathematical Learning Theoy by : Patrick Suppes
Download or read book Experimental Analysis of a Duopoly Situation from the Standpoint of Mathematical Learning Theoy written by Patrick Suppes and published by . This book was released on 1960 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Action Revision, Information and Collusion in an Experimental Duopoly Market by : Nilanjan Roy
Download or read book Action Revision, Information and Collusion in an Experimental Duopoly Market written by Nilanjan Roy and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We report on an experiment designed to study a dynamic model of quantity competition where firms continuously revise their production targets prior to the play of the "one-shot" game. We investigate how the observability of rival firm's plans and the technology for implementation of revised actions affect market competitiveness. Under a real-time revision game where payoffs are determined only by the quantities prepared at the end, play converges to the Cournot-Nash output when rival's plans are unobservable. If plans cannot be hidden from competitors, choices are even more competitive than the static Nash equilibrium, thereby showing a negative value of information with lower profits. With stochastic revision, where opportunities to revise arrive according to a Poisson process and the quantities selected at the last opportunity are implemented, collusion is much frequent. This shows, more generally, that cooperation can be observed even when individuals interact only once.
Book Synopsis An Experimental Study of Cooperative Duopoly by : James W. Friedman
Download or read book An Experimental Study of Cooperative Duopoly written by James W. Friedman and published by . This book was released on 1967 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Collusive Signalling in Experimental Duopoly Markets by : James Hamilton Holcomb
Download or read book Collusive Signalling in Experimental Duopoly Markets written by James Hamilton Holcomb and published by . This book was released on 1985 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dynamic Mixed Duopoly by : Ramon Casadesus-Masanell
Download or read book Dynamic Mixed Duopoly written by Ramon Casadesus-Masanell and published by Fundacion BBVA. This book was released on 2003 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes a dynamic mixed duopoly in which a profit-maximizing competitor interacts with a competitor that prices at zero (or marginal cost), with the cumulation of output affecting their relative positions over time. The modeling effort is motivated by interactions between Linux, an open-source operating system, and Microsoft's Windows in the computer server segment, and consequently emphasizes demand-side learning effects that generate dynamic scale economies (or network externalities). Analytical characterizations of the equilibrium under such conditions are offered, and some comparative static and welfare effects are examined.
Author :Stanford University. Institute for Mathematical Studies in the Social Sciences Publisher : ISBN 13 : Total Pages :1 pages Book Rating :4.:/5 (227 download)
Book Synopsis Experimental analysis of a duopoly situation from the standpoint of mathematical learning theory by : Stanford University. Institute for Mathematical Studies in the Social Sciences
Download or read book Experimental analysis of a duopoly situation from the standpoint of mathematical learning theory written by Stanford University. Institute for Mathematical Studies in the Social Sciences and published by . This book was released on 1960 with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis DYNAMIC DUOPOLY WITH LEARNING THROUGT MARKET EXPERIMENTATION by : Philippe AGHION
Download or read book DYNAMIC DUOPOLY WITH LEARNING THROUGT MARKET EXPERIMENTATION written by Philippe AGHION and published by . This book was released on 1991 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Experiment with Ten Duopoly Games and Beat-the-average Behavior by : Martin Shubik
Download or read book An Experiment with Ten Duopoly Games and Beat-the-average Behavior written by Martin Shubik and published by . This book was released on 1971 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
