Hotelling revisits the lab: equilibration in continuous and discrete time
Curtis Kephart () and
Daniel Friedman
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Curtis Kephart: University of California, Santa Cruz
Journal of the Economic Science Association, 2015, vol. 1, issue 2, No 2, 132-145
Abstract:
Abstract We investigate experimentally the impact of continuous time on a four-player Hotelling location game. The static pure strategy Nash equilibrium (NE) consists of firms paired-up at the first and third quartiles of the linear city. In a repeated simultaneous move (discrete time) treatment, we largely replicate previous findings in which subjects fail to converge to the NE. However, in asynchronous move (continuous time) treatments we see clear convergence towards the NE.
Keywords: Hotelling model; Laboratory experiment; Asynchronous move (search for similar items in EconPapers)
JEL-codes: C73 C92 D21 D43 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (9)
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DOI: 10.1007/s40881-015-0009-z
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