Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 4 of 4
Full-Text Articles in Law
Horizontal Product Differentiation In Auctions And Multilateral Negotiations, Bart J. Wilson, Charles J. Thomas
Horizontal Product Differentiation In Auctions And Multilateral Negotiations, Bart J. Wilson, Charles J. Thomas
Bart J. Wilson
We experimentally compare first-price auctions and multilateral negotiations after introducing horizontal product differentiation into a standard procurement setting. Both institutions yield identical surplus for the buyer, a difference from prior findings with homogeneous products that results from differentiation’s influence on sellers’ pricing behavior. The data are consistent with this finding being driven by concessions from low-cost sellers in response to differentiation reducing their likelihood of being the buyer’s surplus-maximizing trading partner. Further analysis shows that introducing product differentiation increases or leaves unchanged the intensity of price competition among sellers, which contrasts with the conventional wisdom that product differentiation softens competition.
Using Experimental Economics To Understand Competition, Bart Wilson
Using Experimental Economics To Understand Competition, Bart Wilson
Bart J. Wilson
No abstract provided.
A Comparative Approach To Coordination: How Apes, Monkeys And Humans Respond To An Assurance Game With Equivalent Procedures, Bart Wilson, Sarah Brosnan
A Comparative Approach To Coordination: How Apes, Monkeys And Humans Respond To An Assurance Game With Equivalent Procedures, Bart Wilson, Sarah Brosnan
Bart J. Wilson
Our research directly compares coordinated decision making across the entire primate lineage, including a new-world monkey, an old-world monkey, an ape, and humans, to help understand how decision making is different between these species. We find that the ability to coordinate on a mutually beneficial decision does vary across species, that there is variability within each taxonomic group, and that this variation overlaps between groups. Each species represents a continuum, with pairs of each species ranging from random outcomes to those which coordinate on the payoff dominant outcome. What differs is the frequency of payoff dominant outcomes within each species.
Geography And Social Networks In Nascent Distal Exchange, Bart Wilson, Erik Kimbrough
Geography And Social Networks In Nascent Distal Exchange, Bart Wilson, Erik Kimbrough
Bart J. Wilson
No abstract provided.