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3 edition of Experimental duopoly markets with demand inertia found in the catalog.

Experimental duopoly markets with demand inertia

Claudia Keser

Experimental duopoly markets with demand inertia

game-playing experiments and the strategy method

by Claudia Keser

  • 351 Want to read
  • 27 Currently reading

Published by Springer-Verlag in Berlin, New York .
Written in English

    Subjects:
  • Duopolies -- Mathematical models.,
  • Game theory.,
  • Demand (Economic theory)

  • Edition Notes

    Includes bibliographical references (p. [138]-139).

    StatementClaudia Keser.
    SeriesLecture notes in economics and mathematical systems ;, 391
    Classifications
    LC ClassificationsHD2757.25 .K47 1992
    The Physical Object
    Paginationx, 150 p. :
    Number of Pages150
    ID Numbers
    Open LibraryOL1730283M
    ISBN 103540560904, 0387560904
    LC Control Number92034709

    Subjects played twice a multistage duopoly game with demand inertia. Their actual behavior is different from the unique subgame perfect equilibrium solution of the game. The impact of experience on prices and profits in experimental duopoly markets. Author & abstract Benson, Bruce L. & Faminow, M. D., "The impact of experience on prices and profits in experimental duopoly markets," Journal of Economic Claudia, "Cooperation in symmetric duopolies with demand inertia," International Journal of.

    The demand curve faced by producer B is equal to SB and thus, MRB can be drawn equal to SH. At this point, price falls to OP 1 and thus output produced is equal to NH (one-fourth of the market = ½ of NB=½ of ½=¼). The total profits of producer B are equal of NHCD. THIs article presents the results of experiments on a multistage duopoly game with demand inertia. Prices in each period are the only decision variables. Sales depend on current prices and also on past sales. This dynamic relationship between present and past sales is called demand inertia. The game has a unique subgame perfect equilibrium solution.

    Modeling Agent Organizations. This report portrays the results of experimental research on dynamic duopoly markets with demand inertia. Two methods of experimentation are studied: game-playing. An Experimental Study of Competitive Market Behavior Article (PDF Available) in Journal of Political Economy 70(2) February with Reads How we measure 'reads'.


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Experimental duopoly markets with demand inertia by Claudia Keser Download PDF EPUB FB2

Experimental Duopoly Markets with Demand Inertia: Game-Playing Experiments and the Strategy Method (Lecture Notes in Economics and Mathematical Systems): Economics Books @. About this book 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 : Springer-Verlag Berlin Heidelberg.

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. Cite this chapter as: Keser C.

() The Experimental Design. In: Experimental Duopoly Markets with Demand Inertia. Lecture Notes in Economics and Mathematical Systems, vol Author: Claudia Keser. Cite this chapter as: Keser C. () Results of the Game-Playing Experiments. In: Experimental Duopoly Markets with Demand Inertia.

Lecture Notes in Author: Claudia Keser. By eliminating all other factors that may play a role in dynamic pricing we can be sure that the observed e⁄ect is due to demand inertia or due to idiosyncrasies of oligopoly markets. Experimental oligopoly markets typically show a certain degree of collusion not explained by game theory.

However, in reality we observe decreasing prices. This could be due to other factors dominating the network effects. We use an experimental duopoly market with demand inertia to isolate the effect.

We use an experimental duopoly market with demand inertia to isolate the effect of network externalities. We find that experimental prices are consistent with real world observations rather than with theoretical by: 4.

In this game, introduced by Selten (), demand is assumed to exhibit inertia. 1 This takes into account the idea that consumers do not instantaneously react to price changes. 2 The multiperiod duopoly game has a unique subgame perfect equilibrium solution. In the experiment, we observe that the actual individual price-setting behavior of subjects is different from what is prescribed by the Cited by: We use an experimental duopoly market with demand inertia to isolate the effect of network externalities.

We find that experimental price dynamics are rather consistent with real world observations than with theoretical predictions. The model is one of a multistage price-setting duopoly with demand inertia. The notion “demand inertia” refers to a dynamic relationship between present sales and past sales.

This relationship arises because sales depend both on current prices and past sales. 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 : Ji-Ping Huang.

In Section 4 the findings of these studies will be related with each other and with the results of my study of experimental duopoly markets with demand inertia. Therefore, I restrict the presentation of these studies and their results essentially to the aspects which are relevant for the discussion in Section : Claudia Keser.

"Duopoly Behavior in Asymmetric Markets: An Experimental Evaluation," The Review of Economics and Statistics, MIT Press, vol. 74(4), pagesNovember. Friedman, "On Experimental Research in Oligopoly," Review of Economic. Experimental duopoly markets with demand inertia: game-playing experiments and the strategy method.

Experimental Duopoly Markets with Demand Inertia: Game-Playing Experiments and the Strategy Method. [Claudia Keser] -- This experimental study examines both spontaneous and strategically planned behavior of boundedly rational sub- jects in a dynamic duopoly situation.

due to demand inertia or due to idiosyncrasies of oligopoly markets. Experimental oligopoly mar-kets typically show a certain degree of collusion not explained by game theory. In order to separate the network effect from idiosyncratic collusion in a repeated oligopoly, we run a control treatment with an identical market, but without demand by: 4.

This could be due to other factors dominating the network effects. We use an experimental duopoly market with demand inertia to isolate the effect of network externalities.

We find that experimental prices are consistent with real world observations rather Author: R. Bayer and C. Chan. We use an experimental duopoly market with demand inertia to isolate the effect of network externalities.

We find that experimental price dynamics are rather consistent with real world observations than with theoretical k Externalities, Demand Inertia, Experiments, OligopolyAuthor: Ralph C Bayer and Mickey Chan. Ralph-C. Bayer & Mickey Chan, "Network Externalities, Demand Inertia and Dynamic Pricing in an Experimental Oligopoly Market," The Economic Record, The Economic Society of Australia, vol.

83(), pagesDecember. Network externalities, demand inertia, and dynamic pricing in an experimental oligopoly market. We use an experimental duopoly market with demand inertia to isolate the effect of network externalities.

We find that experimental price dynamics are rather consistent with real world observations than with theoretical predictionsAuthor: R.C. Bayer and C.Y. Chan. Duopoly: A duopoly is a situation in which two companies own all or nearly all of the market for a given product or service.

A duopoly is the most basic form of oligopoly, a market dominated by a Author: Caroline Banton.Some results of experimental duopoly markets with demand inertia”, ().

Stackelberg beats Cournot: on collusion and efficiency in experimental markets”.