کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5066884 1476805 2013 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
An experiment on supply function competition
ترجمه فارسی عنوان
آزمایش در رقابت عملکرد عرضه
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


- We investigate the potential role of bounded rationality in supply function competition.
- We find that, overall, equilibrium organizes bidding behavior well.
- However, bidding is sensitive to theoretically irrelevant changes of the demand distribution.
- Also, in a market with asymmetric firms, the larger firm bids more competitively than predicted.

We experimentally investigate key predictions of supply function equilibrium. While, overall, equilibrium organizes bidding behavior well, we observe three important deviations. First, bidding is sensitive to theoretically irrelevant changes of the demand distribution. Second, in a market with symmetric firms we observe tacit collusion in that firms provide less than the predicted quantities. Third, in a market with asymmetric capacities, the larger firm bids more competitively than predicted, while the smaller firms still provide less than equilibrium quantities.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 63, October 2013, Pages 170-185
نویسندگان
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