Running Title: Uncertain Demand & Asymmetric Outcomes (2007)
S. Reynolds, Bart J. Wilson, Stanley S. Reynolds, An Associate
Universidad de Madrid, Wissenschaftszentrum in Berlin, and the Econometric Society 1998 Winter Meetings. This paper is a substantially revised version of a chapter of Wilson’s 1997 University of...
Stanley S. Reynolds, Bart J. Wilson
Preliminary Draft: Please do not cite without authors ’ permission. Abstract: This paper formulates and analyzes a relatively simple model of duopoly pricing under conditions of fluctuating demand....
Market Power and Price Movements over the Business Cycle (2007)
Bart J. Wilson, Stanley S. Reynolds
Abstract: This paper develops and tests implications of an oligopoly-pricing model. The model predicts that during a demand expansion the short run competitive price is a pure strategy Nash...
Correspondence regarding this manuscript should be sent to: (2007)
Kevin Mccabe, Vernon L. Smith, Bart J. Wilson, Robert Kurzban, Robert Kurzban
Real Time Public Goods 2 Allowing players in public goods games to make small incremental commitments to contributing to the good might facilitate cooperation because it helps to prevent players from...
An Experimental Investigation of Hobbesian Jungles ∗ (2006)
Benjamin Powell, Bart J. Wilson, Benjamin Powell, Bart J. Wilson
are our own.
Tracking Customer Search to Price Discriminate (2006)
Deck, Cary A., Wilson, Bart J.
The electronic technologies of the Internet make it possible for sellers to track potential customers and discriminate between the informed and uninformed. In this article, we report an experiment...
TRACKING CUSTOMER SEARCH TO PRICE DISCRIMINATE (2005)
Deck, Cary A., Wilson, Bart J.
The electronic technologies of the Internet make it possible for sellers to track potential customers and discriminate between the informed and uninformed. In this article, we report an experiment...
Automated Pricing Rules in Electronic Posted Offer Markets (2003)
Deck, Cary A., Wilson, Bart J.
Internet markets are heralded as enhancing efficiency by providing buyers and sellers with an abundance of information. In these electronic markets, firms have the opportunity to employ...
Using experiments to inform the privatization/deregulation movement in electricity (2002)
Stephen J. Rassenti, Vernon L. Smith, Bart J. Wilson
known as e-commerce) in the experimental laboratory began in 1976 when Arlington Williams conducted the initial experiments testing the first electronic “double-auction ” trading system, which he...
Douglas D. Davis, Robert J. Reilly, Bart J. Wilson
This paper reports an experiment designed to assess the effects of a rotation in the marginal cost curve on convergence in a repeated Cournot triopoly. Increasing the cost curve’s slope both...
Using Experiments to Inform the Privatization/Deregulation Movement in Electricity (2002)
Stephen Rassenti Vernon, Vernon L. Smith, Bart J. Wilson
this paper is based: the Arizona Corporation Commission (Commissioners: Richard Kimball, Junius Hoffman, and Marianne Jennings) who in 1984 had the vision to fund our first efforts to study...
Structural Features that Contribute to Market Power (2000)
Stephen J. Rassenti, Vernon L. Smith, Bart J. Wilson
In this paper we report an experiment that examines a primary concern of policy makers: how a structural feature of electric power networks can contribute to the exercise of market power by...
MARKET POWER AND PRICE MOVEMENTS OVER THE BUSINESS CYCLE
Bart J. Wilson, Stanley S. Reynolds
This paper develops and tests implications of an oligopoly-pricing model. The model predicts that during a demand expansion, the short run competitive price is a pure strategy Nash equilibrium but in...
Strategic Buyers, Horizontal Mergers and Synergies: An Experimental Investigation*
Douglas D. Davis, Bart J. Wilson
This paper reports an experiment designed to evaluate interrelationships between strategic buyers, market power and merger-induced synergies. The experiment consists of 40 posted-offer quadropolies....
Raising Revenues for Charity: Auctions versus Lotteries
Douglas D. Davis, Laura Razzolini, Robert Reilly, Bart J. Wilson
We report an experiment conducted to gain insight into factors that may affect revenues in English auctions and lotteries, two commonly used charity fund-raising formats. In particular, we examine...
Verifiable Offers and the Relationship Between Auctions and Multilateral Negotiations
Charles J. Thomas, Bart J. Wilson
We use the experimental method to compare second-price auctions with 'verifiable' multilateral negotiations in which the sole buyer can credibly reveal to sellers the best price offer he currently...
Controlling market power and price spikes in electricity networks: Demand-side bidding
Rassenti, Stephen J., Smith, Vernon L., Wilson, Bart J.
In this article we report an experiment that examines how demand-side bidding can discipline generators in a market for electric power. First we develop a treatment without demand-side bidding; two...
Controlling market power and price spikes in electricity networks: Demand-side bidding
Rassenti, Stephen J., Smith, Vernon L., Wilson, Bart J.
In this article we report an experiment that examines how demand-side bidding can discipline generators in a market for electric power. First we develop a treatment without demand-side bidding; two...
How Applicable is the Dominant Firm Model of Price Leadership?
Stephen J. Rassenti, Bart J. Wilson
In this paper, we examine the usefulness of the dominant firm model of price leadership to serve as a benchmark for organizing behavior in laboratory markets. This well established model, whose...
Exclusionary Bundling and the Effects of a Competitive Fringe
Anil Caliskan, David Porter, Stephen Rassenti, Vernon L. Smith, Bart J. Wilson
The traditional analysis of exclusionary bundling examines the impact of a monopolist bundling product A with another product B, which is competitively provided. Using experimental posted-offer...
Rassenti, Stephen J, Smith, Vernon L, Wilson, Bart J
A "pay-as-offered" or discriminatory price auction (DPA) has been proposed to solve the problem of inflated and volatile wholesale electricity prices. Using the experimental method we compare the DPA...
A Comparison of Auctions and Multilateral Negotiations
Charles J. Thomas, Bart J. Wilson
We compare first-price auctions to an exchange process that we term ``multilateral negotiations.'' In multilateral negotiations, a buyer solicits price offers for a homogeneous product from sellers...
symposium articles : Firm-specific cost savings and market power
Douglas D. Davis, Bart J. Wilson
We report a policy experiment that illustrates a potential problem of using historical pass-through rates as a means of predicting the competitive consequences of projected firm-specific cost savings...
Tracking Customer Search to Price Discriminate
The electronic technologies of the Internet make it possible for sellers to track potential customers and discriminate between the informed and uninformed. In this article, we report an experiment...
Automated Pricing Rules in Electronic Posted Offer Markets
Internet markets are heralded as enhancing efficiency by providing buyers and sellers with an abundance of information. In these electronic markets, firms have the opportunity to employ "pricebots,"...
Auction Markets for Evaluations
When the value of a product or service is uncertain, outcomes can be inefficient. A market for evaluations can theoretically increase efficiency by voluntarily eliciting an evaluation that would...
FIXED REVENUE AUCTIONS: THEORY AND BEHAVIOR
"In this paper, we study auctions in which the revenue is fixed but the quantity is determined by the auction mechanism. Specifically, we investigate the theory and behavior of English quantity...
Strategic buyers, horizontal mergers and synergies: An experimental investigation
Davis, Douglas D., Wilson, Bart J.
This paper reports an experiment designed to evaluate interrelationships between strategic buyers, market power and merger-induced synergies. The experiment consists of 40 posted-offer quadropolies....
Deck, Cary A., Wilson, Bart J.
Zone pricing in wholesale gasoline markets is a contentious topic in the public policy debate. With a controlled laboratory experiment, we investigate the competitive effects of zone pricing on...
An experimental investigation of Hobbesian jungles
Powell, Benjamin, Wilson, Bart J.
Hobbes's state of nature serves as the analytical starting point for much of what economists have written on anarchy and the formation of government. Unfortunately little historical evidence exists...
Erik O. Kimbrough, Vernon L. Smith, Bart J. Wilson
This laboratory experiment explores the extent to which impersonal exchange emerges from personal exchange with opportunities for long-distance trade. We design a three-commodity production and...
This paper attempts to explicate the meaning of reciprocate in economics. I first show using innate universal concepts that the definition of reciprocate appears to be circular. This circularity...
Justice and Fairness in the Dictator Game
This article uses a laboratory experiment to examine the question of whether justice and fairness are different motivational forces in the dictator game. ‘‘Justice’’ and ‘‘fairness’’...