Decision Sciences
4 years ago

Experimental economics reveals market power impact on prices in oligopolistic markets.

HAL (Le Centre pour la Communication Scientifique Directe)
A contribution of experimental economics toward characterization of the use of market power in oligopolisitc markets
Fabien Petit, Yannick Phulpin, Marcelo Saguan, Philippe Dessante

Paper Summary

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The article explores how market power is used in competitive markets. By conducting experiments with two regions and different numbers of participants, the researchers found that market prices deviated from theoretical predictions, indicating the use of market power. The behavior of participants also influenced price changes.