Team selection with asymmetric agents

Article Abstract:

The robustness of results of one-period team selection studies reported by Bolle (1994) in which subjects often did not exhibit the Nash equilibrium behavior but resorted to tacit collusion is tested. To this end, asymmetry is introduced into subjects' characteristics and the experiment is repeated for a number of periods. Results show that collusion is not sustainable, with the outcomes approximating the Nash equilibrium. However, the agent's actions remain a little bit above the Nash equilibrium level.

Competition (Economics), Game theory, Equilibrium (Economics), Agency theory

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A model of pricing behavior: an econometric case study

Article Abstract:

A structural model employed in individual wholesale firms indicate their operation in imperfectly competitive world markets offering a significantly differentiated service package. Pricing rules applied by traders agree with cost mark-up pricing. The mark-up differs among traders in such a level wherein a firm's pricing strategy varies from full profit maximization. This differing property is related with firm size, the type of buyers served and other aspects of the wholesale service package.

Pricing Policy, Analysis, Management

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Wholesale pricing in a small open economy

Article Abstract:

A study of the wholesale sector in the Netherlands in 1986 is undertaken to find out the characteristics of profit margins as determined by wholesale prices. An analysis of profit margin variation should consider that the sector is concerned with service rather than any specific product. A model based on two approaches attempts to explain price trends. The two reference models are the behavioral mark-up and the marginalist price-cost models.

Wholesale Trade, Prices and rates

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