|
EconStor >
Max-Planck-Institut für Ökonomik, Jena >
Jena Economic Research Papers, MPI für Ökonomik >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/31732
|
| | |
| Title: | | Satisficing and prior-free optimality in price competition: a theoretical and experimental analysis  |
| Authors: | | Güth, Werner Levati, Maria Vittoria Ploner, Matteo |
| Issue Date: | | 2008 |
| Series/Report no.: | | Jena economic research papers 2008,067 |
| Abstract: | | On a heterogeneous experimental oligopoly market, sellers choose a price, specify a set-valued prior-free conjecture about the others' behavior, and form their own profit-aspiration for each element of their conjecture. We formally define the concepts of satisficing and prior-free optimality and check if seller participants behave in accordance with them. We find that seller participants are satisficers, but fail to be prior-free optimal. |
| Subjects: | | Satisficing behavior bounded rationality triopoly |
| JEL: | | C92 C72 D43 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/31732
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|