Adaptive learning vs. equilibrium refinements in an entry limit pricing game
Article Abstract:
An analysis of the factors affecting the entry limit pricing game reveals that Bayesian adaptive learning models are inconsistent with augmented adaptive learning models. The study shows that the augmented adaptive learning model where players have limited deductive capacities is by far the most effective tool in organizing experimental data as it effectively predicts the play convergence and the limit pricing speed in a given game.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
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Estimation of hedonic price equation for Bordeaux wine: does quality matter?
Article Abstract:
An estimation of a hedonic price equation for Bordeaux wines shows that the objective characteristics on a wine bottle's label are the main determinants of the wine's market price. The imperfect information theory may offer a possible explanation why a wine's market price is determined primarily by the objective characteristics, and not by its quality, as judged by professional tasters of sensory characteristics.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1997
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The distributional impact of price changes in Hungary and the United Kingdom
Article Abstract:
A new method of assessing the distributional effect of price changes is created using data from both Hungary and the UK covering the 1980s. Economic researchers have assumed that Soviet-type regimes such as that of Hungary resorted to price distortion as a redistributive technique. Results using the new method shows that such distributive impact was very insignificant and almost nil.
Publication Name: Economic Journal
Subject: Economics
ISSN: 0013-0133
Year: 1995
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