BILATERAL OLIGOPOLY IN POLLUTION PERMIT MARKETS: EXPERIMENTAL EVIDENCE.
We experimentally investigate behavior in a bilateral oligopoly using a supply function equilibria model discussed by Klemperer and Meyer (1989), Hendricks and McAfee (2010), and Malueg and Yates (2009). We focus on the role that market size and the degree of firm heterogeneity have on the market eq...
| Publicado en: | Economic Inquiry Vol. 52; no. 3; pp. 1060 - 1080 |
|---|---|
| Autores principales: | , , , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Jul2014
|
| Materias: | |
| 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=95908279&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 95908279 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Jul2014 vid: 52 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 95908279 10.1111/ecin.12087 ppf: 1060 ppct: 20 formats: fmt: – @attributes: type: T – @attributes: type: P size: 994KB tig: atl: BILATERAL OLIGOPOLY IN POLLUTION PERMIT MARKETS: EXPERIMENTAL EVIDENCE. aug: au: SCHNIER, KURT DOYLE, MARTIN RIGBY, JAMES R. YATES, ANDREW J. affil: Professor of Economics, School of Humanities, Social Sciences and Arts, University of California, Merced CA 95343 Professor of River Science and Policy, Nicholas School of the Environment, Duke University, Durham NC 27708 Research Hydrologist, USDA ‐ ARS National Sedimentation Laboratory, Oxford MS 38655 Assistant Professor, Economics/Curriculum for the Environment and Ecology, University of North Carolina, Chapel Hill NC 27599 su: Oligopolies Heterogeneity Economics Supply functions (Economic theory) Emissions trading General equilibrium theory (Economics) Market equilibrium Efficient market theory Mathematical models sug: subj: Oligopolies Heterogeneity Economics Supply functions (Economic theory) Emissions trading General equilibrium theory (Economics) Market equilibrium Efficient market theory Mathematical models ab: We experimentally investigate behavior in a bilateral oligopoly using a supply function equilibria model discussed by Klemperer and Meyer (1989), Hendricks and McAfee (2010), and Malueg and Yates (2009). We focus on the role that market size and the degree of firm heterogeneity have on the market equilibrium. Our results indicate that subjects within the experiment recognize the strategic incentives in a bilateral oligopoly, but they do not exploit these incentives to the exact magnitude predicted by theory. We find weaker support for predicted market outcomes, as market efficiency does not depend on market size, and in some cases buyers or sellers are more successful at extracting the rents from the market. ( JEL L13, Q5, C9) pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|