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| Author: | Reynolds, S. |
| Title: | Durable-goods monopoly: laboratory market and bargaining experiments |
| Journal: | RAND Journal of Economics
2000 : SUMMER, VOL. 31:2, p. 375-394 |
| Index terms: | CONSUMER DURABLES BARGAINING MONOPOLY |
| Language: | eng |
| Abstract: | Results from single-period monopoly experiments are compared with results from multiperiod monopoly experiments that have features of a durable-goods environment. Average prices were below the static monopoly benchmark price in all settings. Observed initial prices were higher in multiperiod experiments than in single-period experiments, in contrast to equilibrium predictions. Prices in multiperiod experiments tended to fall over time. |
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