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Preliminary Draft: Please do not cite without authors ’ permission.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...
Multi-Period Bargaining: Asymmetric Information and Risk Aversion * (2007)
Abstract: A two period bargaining model with asymmetric information is considered. An uninformed seller charges a uniform price to two buyers. A risk averse seller offers a larger price cut in period...
Zeynep Kocabiyik Hansen, Biotechnology Collaborations, Advisor Gary, D. Libecap, Committee Ron, L. Oaxaca, ...
Timothy N. Cason, Stanley S. Reynolds
This paper reports on a new experimental design for sequential bargaining with asymmetric information. The design is simple enough to permit computation of predictions of models of bounded...
OPTIMAL MONOPOLY INVESTMENT AND CAPACITY UTILIZATION UNDER RANDOM DEMAND (1990)
David B. Nickerson, Stanley S. Reynolds
The views expressed are those of the individual authors and do not necessarily reflect official positions of the Federal Reserve Bank of St. Louis, the Federal Reserve System, or the Board of...
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...
Optimal monopoly investment and capacity utilization under random demand
David B. Nickerson, Stanley S. Reynolds
Unique value-maximizing programs of irreversible capacity investment and capacity utilization are described and shown to exist under general conditions for monopolist exhibiting capital adjustment...
Capacity Investment, Preemption and Commitment in an Infinite Horizon Model.
The commitment value of capacity is analyzed in an infinite horizon duopoly model. The paper focuses on the role of alternative behavioral assumptions about the ability of firms to commit to...
Adaptation and convergence of behavior in repeated experimental Cournot games
Rassenti, Stephen, Reynolds, Stanley S., Smith, Vernon L., Szidarovszky, Ferenc
Plant Closings and Exit Behaviour in Declining Industries.
The plant closing and exit strategies of firms operating in a declining industry are examined. A dynamic, game-theoretic model is utilized. The perfectness criterion is used to restrict the set of...
John Wooders, Stanley S. Reynolds
Internet auctions on eBay and Yahoo allow sellers to list their auctions with a Buy-Now option. In such auctions the seller sets a buy price at which a bidder may purchase the item immediately and...
Changing patterns of investment decision making in world aluminum
Newcomb, Richard T., Reynolds, Stanley S., Masbruch, Thomas A.
Durable-Goods Monopoly: Laboratory Market and Bargaining Experiments
Results from single-period monopoly experiments (nondurable environment) are compared with results from multiperiod experiments that have features of a durable-goods environment. Average prices were...
Appropriability and Market Structure in a Stochastic Invention Model.
Isaac, R Mark, Reynolds, Stanley S
This research examines, in the laboratory, a class of game-theoreti c equilibrium models of private research and development (R&D). The authors formulate a stochastic model of R&D investment whose...
Stochastic Innovation and Product Market Organization.
Reynolds, Stanley S, Isaac, R Mark
This paper analyzes how different types of product market organization affect firms' R&D investments in a stochastic innovation framework. Product market competition determines payoffs to successful...