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Non-competitive markets

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Georgantzis, N. and Attanasi, G. (2015) Non-competitive markets. In: Branas-Garza, P. and Cabrales, A. (eds.) Experimental Economics Volume II: Economic Applications. Palgrave Macmillan, pp. 21-36. ISBN 9781137538154

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Abstract/Summary

Among all the paradigms in economic theory, the theoretical predictions of oligopoly were the first to be examined in the laboratory. In this chapter, instead of surveying all the experiments with few sellers, we adopt a narrower definition of the term “oligopoly”, and focus on the experiments that were directly inspired by the basic oligopolistic models of Cournot, Bertrand, Hotelling, Stackelberg, and some extensions. Most of the experiments we consider in this chapter have been run in the last three decades. This literature can be considered as a new wave of experimental works aiming at representing basic oligopolistic markets and testing their properties. The chapter is divided into independent sections referring to different parts of the oligopolistic theory, including both monopoly as well as a number of extensions of the basic models, which have been chosen with the aim of providing a representative list of the relevant experimental findings.

Item Type:Book or Report Section
Refereed:Yes
Divisions:Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Food Economics and Marketing (FEM)
ID Code:48692
Publisher:Palgrave Macmillan

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