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Endogenous timing in duopoly: Experimental evidence

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  • Fonseca, M.A.
  • Müller, W.

    (Tilburg University)

  • Normann, H.T.

Abstract

In this paper we experimentally investigate the extended game with observable delay of Hamilton and Slutsky (Games Econ.Beh., 1990).Firms bindingly announce a production period (one out of two periods) and then they produce in the announced sequence.Theory predicts simultaneous production in period one but we find that a substantial proportion of subjects choose the second period.

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Bibliographic Info

Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-193647.

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Date of creation: 2006
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Publication status: Published in International Journal of Game Theory (2006) v.34, p.443-456
Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-193647

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Web page: http://www.tilburguniversity.edu/

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  1. Robson, Arthur J, 1990. "Stackelberg and Marshall," American Economic Review, American Economic Association, vol. 80(1), pages 69-82, March.
  2. Damme, E.E.C. van & Hurkens, J.P.M., 1999. "Endogenous Stackelberg leadership," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154410, Tilburg University.
  3. Müller, W., 2003. "Allowing for Two Production Periods in the Cournot Duopoly: Experimental Evidence," Discussion Paper 2003-42, Tilburg University, Center for Economic Research.
  4. Eric van Damme & Sjaak Hurkens, 1998. "Endogenous price leadership," Economics Working Papers 289, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Hamilton, Jonathan H. & Slutsky, Steven M., 1990. "Endogenous timing in duopoly games: Stackelberg or cournot equilibria," Games and Economic Behavior, Elsevier, vol. 2(1), pages 29-46, March.
  6. Santos-Pinto, Luís, 2006. "Making Sense of the Experimental Evidence on Endogenous Timing in Duopoly Markets," MPRA Paper 3142, University Library of Munich, Germany, revised 27 Apr 2007.
  7. Holt, Charles A, 1985. "An Experimental Test of the Consistent-Conjectures Hypothesis," American Economic Review, American Economic Association, vol. 75(3), pages 314-25, June.
  8. Huck, Steffen & Müller, Wieland & Normann, Hans-Theo, 1999. "Stackelberg beats Cournot: On collusion and efficiency in experimental markets," SFB 373 Discussion Papers 1999,32, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  9. Huck, S. & Müller, W. & Normann, H.T., 2002. "To commit or not to commit: Endogenous timing in experimental duopoly markets," Open Access publications from Tilburg University urn:nbn:nl:ui:12-112549, Tilburg University.
  10. Miguel Fonseca & Steffen Huck & Hans-Theo Normann, 2005. "Playing Cournot although they shouldn’t," Economic Theory, Springer, vol. 25(3), pages 669-677, 04.
  11. Saloner, Garth, 1987. "Cournot duopoly with two production periods," Journal of Economic Theory, Elsevier, vol. 42(1), pages 183-187, June.
  12. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
  13. Amir, Rabah & Grilo, Isabel, 1999. "Stackelberg versus Cournot Equilibrium," Games and Economic Behavior, Elsevier, vol. 26(1), pages 1-21, January.
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