Price competition and market concentration¶
Dufwenberg, & Gneezy. (2000). Price competition and market concentration: an experimental study.
Cited by¶
1 citation across 1 artifact.
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Domain-specific¶
- Traveler's Dilemma
- Game-theory pedagogy and equilibrium refinement — the home use, the canonical exhibit (beside the centipede game) that iterated dominance is fragile when recursion depth is large. Behavioral economics — an empirical test bed for bounded rationality, level-k thinking, and Quantal Response Equilibrium (McKelvey-Palfrey), which recovers the observed high-claim behavior by injecting small choice errors that unravel the deep chain. Industrial organization (Bertrand competition) — the same structure in another dress, where each firm slightly undercuts and the chain collapses to marginal-cost pricing that real markets fall short of in exactly the anticipated way
This sourceThe experimental Bertrand result that undercutting logic predicts marginal-cost pricing but two-firm markets sustain prices well above it. The Bertrand paradox and the empirical finding that duopolies selling near-identical goods sustain prices well above marginal cost.
- Game-theory pedagogy and equilibrium refinement — the home use, the canonical exhibit (beside the centipede game) that iterated dominance is fragile when recursion depth is large. Behavioral economics — an empirical test bed for bounded rationality, level-k thinking, and Quantal Response Equilibrium (McKelvey-Palfrey), which recovers the observed high-claim behavior by injecting small choice errors that unravel the deep chain. Industrial organization (Bertrand competition) — the same structure in another dress, where each firm slightly undercuts and the chain collapses to marginal-cost pricing that real markets fall short of in exactly the anticipated way
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