Accession Number : AD0606683
Title : AN EXPERIMENTAL STUDY IN OLIGOPOLY.
Descriptive Note : Discussion paper,
Corporate Author : YALE UNIV NEW HAVEN CONN COWLES FOUNDATION FOR RESEARCH IN ECONOMICS
Personal Author(s) : Friedman,James W.
Report Date : 23 SEP 1964
Pagination or Media Count : 42
Abstract : A very general model with which many theories of oligopolistic behavior might be tested would be a useful tool for economists. In the first part of this paper a model is proposed for this role. The model is not developed in the fullest degree of generality, but is presented in the way most relevant to experiments of the type presented in the second part of the paper. The experiments employ aa simple market model in which each subject takes the role of a business firm, each firm has only one decision variable under its control (its own price) and the number of firms in an industry is two, three and four. (Author)
Descriptors : (*ECONOMICS, MATHEMATICAL MODELS), COMMERCE, MONEY, EQUATIONS, BEHAVIOR, INDUSTRIES, STATISTICAL PROCESSES, PROBABILITY, MATRICES(MATHEMATICS), DECISION MAKING
Distribution Statement : APPROVED FOR PUBLIC RELEASE