Cournot or Stackelberg competition? A survey on experimental evidence

Andreas Hildenbrand

MPRA Paper from University Library of Munich, Germany

Abstract: In this survey, I look into experimental studies on duopolistic quantity competition with homogeneous products and duopolistic price competition with heterogeneous products. The focus is on the sequence of competition. That is, I summarize and analyze experimental studies checking Cournot competition against Stackelberg competition. I find that while Stackelberg equilibrium outcomes are seldom under quantity competition, under price competition, the Stackelberg equilibrium prediction seems to be more appropriate. However, after discussing the experimental setups, I conclude that some methodological problems are present. Moreover, I make recommendations for further research.

Keywords: Cournot competition; simultaneous competition; simultaneous play; Stackelberg competition; sequential competition; sequential play; duopoly; homogeneous products; heterogeneous products; experiemtal economics (search for similar items in EconPapers)
JEL-codes: C72 C91 D43 L13 (search for similar items in EconPapers)
Date: 2010-08-17
New Economics Papers: this item is included in nep-com, nep-exp and nep-ind
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:24468

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