publication . Article . 2006

Testing oligopoly theory in the Lab

Georgantzis, Nikos;
Open Access Spanish; Castilian
  • Published: 01 Jan 2006
  • Publisher: Universidad de Valladolid
Abstract
Previous experimental results are reviewed to address the extent to which oligopolistic equilibria are good predictors of behavior observed in labe ratory experiments with human agents. Although the theory is unrealistically demanding with respect to the agents7 informational and rational endowments, experimental results obtained in more realistic settings with subjects using trial-anderror decision mechanisms tend to confirm predictions of simple symmetric theoretical models. However, in the presence of more complex and/or asymmetric environments, systematic deviations are observed between theoretical predictions and experimental results. Certainly, more effort...
Subjects
free text keywords: Economía política, Economía de empresa
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publication . Article . 2006

Testing oligopoly theory in the Lab

Georgantzis, Nikos;