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- W2586228909 abstract "We report the results of a series of experimental Bertrand duopolies where firms have convex costs. These duopolies are theoretically characterized by a multiplicity of Nash equilibria. Using a 2×2 design, we analyze price choices in symmetric and asymmetric markets under two information conditions (complete versus incomplete information about profits). We find that information has no effect in symmetric markets with respect to market prices and the time it takes for markets to stabilize. However, in asymmetric markets, complete information leads to higher market prices and quicker convergence of price choices. JEL Classification numbers: L13, C72, C92." @default.
- W2586228909 created "2017-02-17" @default.
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- W2586228909 date "2009-01-01" @default.
- W2586228909 modified "2023-09-27" @default.
- W2586228909 title "Bertrand competition with convex costs in symmetric and asymmetric markets. Results from a pilot study" @default.
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