Monopoly Profit Maximization: Success and Economic Principles

Abstract

This paper presents a classroom experiment on pricing strategies available to monopolists. Each student makes production decisions as a monopolist during the experiment, learning from his/her own experiences what it means to be a price searcher. Full information is provided on cost conditions, while the demand function remains unknown to the participants… (More)

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Cite this paper

@inproceedings{Blanckenburg2014MonopolyPM, title={Monopoly Profit Maximization: Success and Economic Principles}, author={Korbinian von Blanckenburg and Milena Neubert}, year={2014} }