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Re-matching, information and sequencing effects in posted offer markets

  • Douglas Davis

    ()

  • Oleg Korenok

    ()

  • Robert Reilly

    ()

This paper evaluates the effects of some standard procedural variations on outcomes in posted offer oligopoly experiments. Variations studied include the presence or absence of market information, the use of re-matching or fixed seller pairs and alterations in the order of sequencing. Experimental results indicate that such variations can have first order effects on outcomes. For this reason, we recommend that results in oligopoly experiments be carefully interpreted in light of the procedures selected.

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File URL: http://hdl.handle.net/10.1007/s10683-008-9195-3
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Article provided by Springer in its journal Experimental Economics.

Volume (Year): 12 (2009)
Issue (Month): 1 (March)
Pages: 65-86

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Handle: RePEc:kap:expeco:v:12:y:2009:i:1:p:65-86
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=102888

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  1. Douglas D. Davis & Charles A. Holt, 1994. "Market Power and Mergers in Laboratory Markets with Posted Prices," RAND Journal of Economics, The RAND Corporation, vol. 25(3), pages 467-487, Autumn.
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  6. Dufwenberg, Martin & Gneezy, Uri, 1998. "Price Competition and Market Concentration: An Experimental Study," Working Paper Series 1998:8, Uppsala University, Department of Economics.
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  8. Douglas D. Davis & Oleg Korenok, 2009. "Posted Offer Markets In Near-Continuous Time: An Experimental Investigation," Economic Inquiry, Western Economic Association International, vol. 47(3), pages 449-466, 07.
  9. Mason, Charles F. & Phillips, Owen R., 1997. "Mitigating the Tragedy of the Commons through Cooperation: An Experimental Evaluation," Journal of Environmental Economics and Management, Elsevier, vol. 34(2), pages 148-172, October.
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  17. Smith, Vernon L., 2002. "Constructivist and Ecological Rationality in Economics," Nobel Prize in Economics documents 2002-7, Nobel Prize Committee.
  18. Davis, Douglas, 2009. "Pure numbers effects, market power, and tacit collusion in posted offer markets," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 475-488, October.
  19. Douglas Davis & Robert Reilly & Bart Wilson, 2003. "Cost Structures and Nash Play in Repeated Cournot Games," Experimental Economics, Springer, vol. 6(2), pages 209-226, October.
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