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Information And Cost Asymmetry In Experimental Duopoly Markets

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Author Info
Charles F. Mason
Owen R. Phillips
Abstract

We analyze data from experimental duopoly markets to assess the role information plays in facilitating collusion. In these markets, profitability can be common knowledge or private information. Market outputs are estimated in structures with symmetric and asymmetric costs under the two information conditions. Symmetric markets are more cooperative when profitability is common knowledge; asymmetric market outputs are unaffected by information differences. However, common knowledge in asymmetric markets increases the share of the output produced by the low - cost producer, and therefore increases industry efficiency. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog

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Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 79 (1997)
Issue (Month): 2 (May)
Pages: 290-299
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Handle: RePEc:tpr:restat:v:79:y:1997:i:2:p:290-299

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  1. Francois Cochard & Anthony Ziegelmeyer & Kene Boun My, 2005. "The Regulation of Nonpoint Emissions in the Laboratory: A Stress Test of the Ambient Tax Mechanism," Papers on Strategic Interaction 2005-37, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  2. Martin Dufwenberg & Uri Gneezy & Jacob Goeree & Rosemarie Nagel, 2007. "Price floors and competition," Economic Theory, Springer, vol. 33(1), pages 211-224, October. [Downloadable!] (restricted)
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  3. Francois Cochard & Anthony Ziegelmeyer & Kene Boun My, 2004. "Regulation of Nonpoint Emissions under Limited Information: A Stress Experimental Test of the Ambient Tax Mechanism," Papers on Strategic Interaction 2003-33, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  4. Suetens, S., 2003. "A duopoly experiment on cooperative and noncooperative r&d," Discussion Paper 77, Tilburg University, Center for Economic Research. [Downloadable!]
  5. Anthony Ziegelmeyer & Katinka Pantz, 2005. "Collaborative Networks in Experimental Triopolies," Papers on Strategic Interaction 2005-38, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  6. Dufwenberg, Martin & Gneezy, Uri, 1999. "Procurement and Information Feedback," Research Papers in Economics 2000:2, Stockholm University, Department of Economics. [Downloadable!]
  7. José Apesteguia & Martin Dufwenberg & Reinhard Selten, 2003. "Blowing the Whistle," Bonn Econ Discussion Papers bgse9_2003, University of Bonn, Germany. [Downloadable!]
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