Experimentally observed imitation and cooperation in price competition on the circle

@article{Selten2005ExperimentallyOI,
  title={Experimentally observed imitation and cooperation in price competition on the circle},
  author={Reinhard Selten and Jose Apesteguia},
  journal={Games and Economic Behavior},
  year={2005},
  volume={51},
  pages={171-192}
}
This paper reports an experiment on a location game, the so-called “Price-Competition on the Circle.” There are n symmetric firms equidistantly located on a circle. Consumers are uniformly distributed. Each consumer buys one and only one unit from that firm whose price, including the cost of transportation, is the lowest, provided such a price is below a maximum willingness to pay. Experiments, extended over 200 periods, were run with 3, 4, and 5 participants. Subjects did not receive any… CONTINUE READING
Highly Cited
This paper has 35 citations. REVIEW CITATIONS

References

Publications referenced by this paper.
Showing 1-10 of 15 references

Imitation Equilibrium

R. SELTEN, A. OSTMANN.
Homo Oeconomicus, 43:111-149. • 2001
View 2 Excerpts

Non-Nash Equilibria of Darwinian Dynamics with Applications to Duopoly

P. RHODE, M. STEGEMAN.
International Journal of Industrial Organization, 19:415-453. • 2001

Learning in Cournot Oligopoly - An Experiment

Theo Normann, JÄorg Oechssler
1997

The Evolution of Walrasian Behavior

F. VEGA-REDONDO
Econometrica, 65:375-384. 24 • 1997
View 1 Excerpt

RatImage-Research Assistance Toolbox for Computer-Aided Human Behavior Experiments,

K. ABBINK, A. SADRIEH
SFB Discussion Paper B-325, • 1995
View 1 Excerpt

Location Theory

M. J. BECKMANN
New York: Random House. • 1986

Anbieterverhalten bei komplexen Marktstrukturen

H. TODT
O. Becker & R. Richter (eds.): Dynamische Wirtschaftstheorie. Theorie–Experiment–Entscheidung. H. Sauermann zum 70. Geburtstag, pp. 232-246. Tübingen: Mohr. • 1975
View 1 Excerpt

Pragmatic Decisions on an Experimental Market

H. TODT
H. Sauermann (ed.): Contributions to Experimental Economics, Vol. 3, pp. 608-634. Tübingen: Mohr. • 1972
View 1 Excerpt

Ein Markt mit komplexen Interessenstrukturen

H. TODT
Eine theoretische und experimentelle Untersuchung. Unpublished Habilitation Thesis. Frankfurt. 23 • 1970
View 1 Excerpt

Similar Papers

Loading similar papers…