Spatial competition with three firms: an experimental study.
This article reports the results of an experimental study of the three firm location problem. We compare the subjects' behavior in the experiments with the symmetric mixed strategy Nash equilibrium calculated by Shaked. Overall, the findings are consistent with the equilibrium prediction. However, t...
| Publicado en: | Economic Inquiry Vol. 38; no. 1; pp. 73 - 95 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
January 2000
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=511146249&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 511146249 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: January 2000 vid: 38 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 511146249 10.1111/j.1465-7295.2000.tb00005.x ppf: 73 ppct: 22 formats: fmt: – @attributes: type: T – @attributes: type: P size: 2.5MB tig: atl: Spatial competition with three firms: an experimental study. aug: au: Collins, Richard Sherstyuk, Katerina su: Industrial location Experimental economics Nash equilibrium Risk sug: subj: Industrial location Experimental economics Nash equilibrium Risk ab: This article reports the results of an experimental study of the three firm location problem. We compare the subjects' behavior in the experiments with the symmetric mixed strategy Nash equilibrium calculated by Shaked. Overall, the findings are consistent with the equilibrium prediction. However, the subjects' locations were significantly more dispersed than predicted by the theory. Three alternative explanations of this phenomenon—inexperience, approximate equilibrium behavior and risk aversion—are suggested and evaluated for their predictive power. Special attention is paid to risk aversion. (JEL C9, C72, D43) Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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