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Experimental duopoly markets with demand inertia : game-playing experiments and the strategy method

Author: Claudia Keser
Publisher: Berlin ; New York : Springer-Verlag, ©1992.
Series: Lecture notes in economics and mathematical systems, 391.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:

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  Read more...

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Additional Physical Format: Online version:
Keser, Claudia, 1961-
Experimental duopoly markets with demand inertia.
Berlin ; New York : Springer-Verlag, ©1992
(OCoLC)1042269757
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Claudia Keser
ISBN: 3540560904 9783540560906 0387560904 9780387560908
OCLC Number: 26721995
Description: x, 150 pages : illustrations ; 25 cm.
Contents: 1. Introduction.- 1.1 Motivation.- 1.2 The experimental methods.- 1.3 Structure of the book.- 2. The Model.- 2.1 The game.- 2.2 The subgame perfect equilibrium solution.- 2.3 Pareto optimality.- 2.4 A prominent cooperative solution.- 3. The Experimental Design.- 3.1 Organization of the game-playing experiments.- 3.2 Organization of the strategy tournaments.- 4. Results of the Game-Playing Experiments.- 4.1 General results.- 4.1.1 Prices and demand potentials.- 4.1.2 Profits.- 4.1.3 Price instability.- 4.2 Analysis of the individual markets of the second plays.- 5. Results of the Strategy Tournaments.- 5.1 General results.- 5.1.1 Average profits in the tournaments.- 5.1.2 Ranking lists of the strategies' average profits.- 5.1.3 Profits in individual markets.- 5.1.4 Aggressiveness of the strategies.- 5.2 Structure of the strategies.- 5.2.1 Phase structure.- 5.2.2 Classification of the strategies.- 5.2.3 Some general remarks on the strategies.- 5.2.4 Strategy modifications after the first tournament.- 5.3 Success of the strategies.- 5.4 An evolutionary tournament.- 6. Comparison of Game-Playing Experiments and Strategy Tournaments.- 7. Comparison With Related Studies.- 7.1 Selten (1967a,b).- 7.2 Axelrod (1984).- 7.3 Selten, Mitzkewitz and Uhlich (1988).- 7.4 Comparison of results.- 8. Summary.- References.- APPENDIX A: List of IDEAS participants.- APPENDIX B: Examples of actually observed markets in the game-playing experiments.- APPENDIX C: Flow charts of the strategies surviving in the evolutionary tournament.
Series Title: Lecture notes in economics and mathematical systems, 391.
Responsibility: Claudia Keser.

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