A note comparing the capacity setting performance of the Kreps-Scheinkman duopoly model with the Cournot duopoly model in a laboratory setting
The paper reports the results of 39 laboratory duopoly markets for which pricing institution and participant experience are treatments. Cournot (C) duopolies (quantity precommitment and a price determined to clear the market) are contrasted with Kreps-Scheinkman (KS) duopolies (quantity precommitment and posted prices). Inexperienced participants in KS markets have much more difficulty selecting capacities consistent with the theoretical predictions than do those in C markets. With experience, the differences disappear.
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References listed on IDEAS
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- Vital Anderhub & Werner Güth & Ulrich Kamecke & Hans-Theo Normann, 2003.
"Capacity Choices and Price Competition in Experimental Markets,"
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- Anderhub, V. & Guth, W. & Kamecke, U. & Normann, H.T., 2001. "Capacity Cjoices and Price Competition in Experimental Market," Papers 179, Flinders of South Australia - Discipline of Economics.
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"Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes: A Case with Product Differentiation,"
1995.23, School of Economics, La Trobe University.
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CORE Discussion Papers RP
1474, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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"Bertrand colludes more than Cournot,"
Other publications TiSEM
884b5bf4-2acb-4ce8-b2bf-4, Tilburg University, School of Economics and Management.
- Davis, Douglas D., 1999. "Advance production and Cournot outcomes: an experimental investigation," Journal of Economic Behavior & Organization, Elsevier, vol. 40(1), pages 59-79, September.
- Muren, Astri, 2000. "Quantity precommitment in an experimental oligopoly market," Journal of Economic Behavior & Organization, Elsevier, vol. 41(2), pages 147-157, February.
- David M. Kreps & Jose A. Scheinkman, 1983. "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 326-337, Autumn.
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