An experiment on spatial competition with endogenous pricing
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Altres documents de l'autoria: Barreda-Tarrazona, Iván; García-Gallego, Aurora; Georgantzis, Nikolaos; Andaluz Funcia, Joaquín; Gil Sanz, Agustín
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http://dx.doi.org/10.1016/j.ijindorg.2010.02.001 |
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An experiment on spatial competition with endogenous pricingAutoria
Data de publicació
2011Editor
ElsevierISSN
1677187Cita bibliogràfica
International Journal of Industrial Organization, 29, 1, p. 74-83Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://www.sciencedirect.com/science/article/pii/S0167718710000196Versió
info:eu-repo/semantics/submittedVersionParaules clau / Matèries
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Hotelling's (1929) principle of minimum differentiation and the alternative prediction that firms will maximally differentiate from their rivals in order to relax price competition have not been explicitly tested so ... [+]
Hotelling's (1929) principle of minimum differentiation and the alternative prediction that firms will maximally differentiate from their rivals in order to relax price competition have not been explicitly tested so far. We report results from experimental spatial duopolies designed to address this issue. The levels of product differentiation observed are systematically lower than predicted in equilibrium under risk neutrality and compatible with risk aversion. The observed prices are consistent with collusion attempts. Our main findings are robust to variations in three experimental conditions: automated vs. human market sharing rule for ties, individual vs. collective decision making, and even vs. odd number of locations. © 2010 Elsevier B.V. All rights reserved. [-]
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© 2010 Elsevier B.V. All rights reserved.
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info:eu-repo/semantics/openAccess
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info:eu-repo/semantics/openAccess
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