Collusion in Bertrand vs. Cournot Competition: A Virtual Bargaining Approach

Published Online:https://doi.org/10.1287/mnsc.2017.2878

References

  • Arad A, Rubinstein A (2012) The 11–20 money request game: A level-k reasoning study. Amer. Econom. Rev. 102(7):3561–3573.CrossrefGoogle Scholar
  • Basu K (1994) The traveler’s dilemma: Paradoxes of rationality in game theory. Amer. Econom. Rev. 84(2):391–395.Google Scholar
  • Bulow JI, Geanakoplos JD, Klemperer PD (1985) Multimarket oligopoly: Strategic substitutes and complements. J. Political Econom. 93(3):488–511.CrossrefGoogle Scholar
  • Cabral LMB, Villas-Boas M (2005) Bertrand supertraps. Management Sci. 51(4):599–613.LinkGoogle Scholar
  • Camerer C, Ho T, Chong K (2003) Models of thinking, learning, and teaching in games. Amer. Econom. Rev. 93(2):192–195.CrossrefGoogle Scholar
  • Camerer CF, Ho TH, Chong JK (2004) A cognitive hierarchy model of games. Quart. J. Econom. 119(3):861–898.CrossrefGoogle Scholar
  • Campbell C, Ray G, Muhanna WA (2005) Search and collusion in electronic markets. Management Sci. 51(3):497–507.LinkGoogle Scholar
  • Capra CM, Goeree JK, Gomez R, Holt CA (1999) Anomalous behavior in a traveler’s dilemma? Amer. Econom. Rev. 89(3):678–690.CrossrefGoogle Scholar
  • Carlin BI, Lobo MS, Viswanathan S (2007) Episodic liquidity crises: Cooperative and predatory trading. J. Finance 62(5):2235–2274.CrossrefGoogle Scholar
  • Dufwenberg M, Gneezy U (2000) Price competition and market concentration: An experimental study. Internat. J. Indust. Organ. 18(1):7–22.CrossrefGoogle Scholar
  • Economist, The (2016) No truck with cartels. The Economist (June 2), http://www.economist.com/news/business/21699957-expensive-times-companies-accused-collusion-no-truck-cartels.Google Scholar
  • Engel C (2007) How much collusion? A meta-analysis of oligopoly experiments. J. Competition Law Econom. 3(4):491–549.CrossrefGoogle Scholar
  • Fatas E, Haruvy E, Morales AJ (2014) A psychological reexamination of the Bertrand paradox. Southern Econom. J. 80(4):948–967.CrossrefGoogle Scholar
  • Friedman J (1977) Oligopoly and the Theory of Games (North-Holland, Amsterdam).Google Scholar
  • Garfinkel H (1967) Studies in Ethnomethodology (Prentice Hall, Englewood Cliffs, NJ).Google Scholar
  • Gilboa I, Schmeidler D (1989) Maxmin expected utility with non-unique prior. J. Math. Econom. 18(2):141–153.CrossrefGoogle Scholar
  • Goeree JK, Holt CA, Palfrey TR (2002) Quantal response equilibrium and overbidding in private-value auctions. J. Econom. Theory 104(1):247–272.CrossrefGoogle Scholar
  • Goeree JK, Holt CA, Palfrey TR (2003) Risk averse behavior in generalized matching pennies games. Games Econom. Behav. 45(1): 97–113.CrossrefGoogle Scholar
  • Harsanyi JC (1973) Games with randomly disturbed payoffs: A new rationale for mixed-strategy equilibrium points. Internat. J. Game Theory 2(1):1–23.CrossrefGoogle Scholar
  • Jones E (1921) The Trust Problem in the United States (Macmillan, New York).Google Scholar
  • Kamm FM (2007) Intricate Ethics: Rights, Responsibilities, and Permissible Harms (Oxford University Press, Oxford, UK).CrossrefGoogle Scholar
  • Kessler JB, Leider S (2012) Norms and contracting. Management Sci. 58(1):62–77.LinkGoogle Scholar
  • Kreps DM, Scheinkman JA (1983) Quantity precommitment and Bertrand competition yield Cournot outcomes. Bell J. Econom. 14(2):326–337.CrossrefGoogle Scholar
  • Krupka EL, Leider S, Jiang M (2017) A meeting of the minds: Informal agreements and social norms. Management Sci. 63(6): 1708–1729.LinkGoogle Scholar
  • March JG, Olsen JP (2008) The logic of appropriateness. Goodin RE, Moran M, Rein M, eds. The Oxford Handbook of Public Policy (Oxford University Press, Oxford, UK), 689–708.CrossrefGoogle Scholar
  • McKelvey RD, Palfrey TR (1995) Quantal response equilibria for normal-form games. Games Econom. Behav. 10(1):6–38.CrossrefGoogle Scholar
  • Milgram S, Sabini J (1978) On maintaining urban norms: A field experiment in the subway. Adv. Environment. Psych. 1:31–40.Google Scholar
  • Milgrom P, Shannon C (1994) Monotone comparative statics. Econometrica 62(1):157–180.CrossrefGoogle Scholar
  • Misyak JB, Melkonyan T, Zeitoun H, Chater N (2014) Unwritten rules: Virtual bargaining underpins social interaction, culture, and society. Trends Cognitive Sci. 18(10):512–519.CrossrefGoogle Scholar
  • Nagel R (1995) Unraveling in guessing games: An experimental study. Amer. Econom. Rev. 85(5):1313–1326.Google Scholar
  • Peysakhovich A, Rand DG (2016) Habits of virtue: Creating norms of cooperation and defection in the laboratory. Management Sci. 62(3):631–647.LinkGoogle Scholar
  • Potters J, Suetens S (2013) Oligopoly experiments in the current millennium. J. Econom. Surveys 27(3):439–460.CrossrefGoogle Scholar
  • Singh N, Vives X (1984) Price and quantity competition in a differentiated duopoly. RAND J. Econom. 15(4):546–554.CrossrefGoogle Scholar
  • Smith A (1937) An Inquiry Into the Nature and Causes of the Wealth of Nations (The Modern Library, New York).Google Scholar
  • Stahl DO, Wilson PW (1994) Experimental evidence on players models of other players. J. Econom. Behav. Organ. 25(3):309–327.CrossrefGoogle Scholar
  • Stigler GJ (1964) A theory of oligopoly. J. Political Econom. 72(1):44–61.CrossrefGoogle Scholar
  • Suetens S, Potters J (2007) Bertrand colludes more than Cournot. Experiment. Econom. 10(1):71–77.CrossrefGoogle Scholar
  • Topkis DM (1998) Supermodularity and Complementarity (Princeton University Press, Princeton, NJ).CrossrefGoogle Scholar
  • Ungoed-Thomas J, Lord A (2016) It’s a bargain on Amazon—Or is it? The Sunday Times (November 13), http://www.thetimes.co.uk/edition/news/its-a-bargain-on-amazon-or-is-it-57w52rg90.Google Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.