Cournot Competition and Hit-and-Run Entry and Exit in a Teaching Experiment
Auteur(s)
Simon Gaechter
Accéder
Description
We describe a computerized experiment which can be used to introduce students to imperfect competition in courses on introductory economics, industrial organization, game theory, and strategy & management. In addition to introducing students to strategic thinking in general, the experiment serves to demonstrate that firm profits fall as the number of competitors is increased in a market, and that firms enter profitable markets. The authors have used the experiment in undergraduate classes on strategy and management as well as in MBA courses with great success
Institution partenaire
Langue
English
Date
2006
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