Gürerk, Özgür and Selten, Reinhard (2010): The effect of payoff tables on experimental oligopoly behavior.
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We explore the effects of the provision of an information-processing instrument - payoff tables - on behavior in experimental oligopolies. In one experimental setting, subjects have access to payoff tables whereas in the other setting they have not. It turns out that this minor variation in presentation has non-negligible effects on participants' behavior, particularly in the initial phase of the experiment. In the presence of payoff tables, subjects tend to be more cooperative. As a consequence, collusive behavior is more likely and quickly to occur.
|Item Type:||MPRA Paper|
|Original Title:||The effect of payoff tables on experimental oligopoly behavior|
|Keywords:||Collusion; Cournot oligopoly; payoff tables; bounded rationality; framing; presentation effect|
|Subjects:||D - Microeconomics > D0 - General > D03 - Behavioral Economics; Underlying Principles
L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L13 - Oligopoly and Other Imperfect Markets
C - Mathematical and Quantitative Methods > C9 - Design of Experiments > C92 - Laboratory, Group Behavior
C - Mathematical and Quantitative Methods > C7 - Game Theory and Bargaining Theory > C72 - Noncooperative Games
|Depositing User:||Özgür Gürerk|
|Date Deposited:||22. Nov 2011 14:30|
|Last Modified:||16. Feb 2013 10:15|
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The Effect of Payoff Tables on Experimental Oligopoly Behavior. (deposited 05. May 2010 13:34)
- The effect of payoff tables on experimental oligopoly behavior. (deposited 22. Nov 2011 14:30) [Currently Displayed]