Pricing behavior in asymmetric markets with differentiated products

被引：2

作者：

Peeters, Ronald ^{[1
]}

Strobel, Martin ^{[1
]}

机构：

[1] Univ Maastricht, Dept Econ, NL-6200 MD Maastricht, Netherlands

来源：

INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION | 2009年 / 27卷 / 01期

关键词：

Differentiated markets; Bertrand-Nash equilibrium; Experiment; Edgeworth price cycles; Undercut-proof equilibrium; EQUILIBRIUM; COMPETITION; OLIGOPOLY; DUOPOLY;

D O I：

10.1016/j.ijindorg.2008.02.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We experimentally test Bertrand-Nash equilibria in markets with differentiated products. In contrast to the existing literature, we choose asymmetric market settings in which pure strategy equilibria do not exist. Our results show that Bertrand-Nash equilibria do remarkably well in predicting price distributions and comparative statics. Inaccuracies can be explained by boundedly rational decision-making. Other equilibrium concepts are not able to explain the data. (C) 2008 Elsevier B.V. All rights reserved.

引用

页码：24 / 32

页数：9

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