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Cournot Competition and Hit-and-Run Entry and Exit in a Teaching Experiment

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  • Simon Gächter
  • Christian Thöni
  • Jean-Robert Tyran

Abstract

Instructors can use a computerized experiment to introduce students to imperfect competition in courses on introductory economics, industrial organization, game theory, and strategy and management. In addition to introducing students to strategic thinking in general, the experiment serves to demonstrate that profits of a firm fall as the number of competitors is increased in a market and that firms enter profitable markets. The authors have used the experiment in undergraduate classes on strategy and management as well as in master of business administration courses with great success.

Suggested Citation

  • Simon Gächter & Christian Thöni & Jean-Robert Tyran, 2006. "Cournot Competition and Hit-and-Run Entry and Exit in a Teaching Experiment," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(4), pages 418-430, October.
    • Handle: RePEc:taf:jeduce:v:37:y:2006:i:4:p:418-430
    DOI: 10.3200/JECE.37.4.418-430
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    Citations

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    Cited by:

    1. Andreas Freitag & Catherine Roux & Christian Thöni, 2021. "Communication And Market Sharing: An Experiment On The Exchange Of Soft And Hard Information," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(1), pages 175-198, February.
    2. Fischbacher, Urs & Thöni, Christian, 2008. "Excess entry in an experimental winner-take-all market," Journal of Economic Behavior & Organization, Elsevier, vol. 67(1), pages 150-163, July.
    3. Beth A. Freeborn & Jason P. Hulbert, 2011. "Persuasive and Informative Advertising: A Classroom Experiment," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(1), pages 51-59, January.
    4. Garrouste, Christelle & Loi, Massimo, 2009. "Applications De La Theorie Des Jeux A L'Education: Pour Quels Types Et Niveaux D'Education, Quels Modeles, Quels Resultats? [Applications of Game Theory in Education - What Types and At What Levels," MPRA Paper 31825, University Library of Munich, Germany.
    5. Ricard Rigall-I-Torrent, 2011. "Using problem-based learning for introducing producer theory and market structure in intermediate microeconomics," International Review of Economic Education, Economics Network, University of Bristol, vol. 10(1), pages 14-28.
    6. Correa, Manuel & García-Quero, Fernando & Ortega-Ortega, Marta, 2016. "A role-play to explain cartel behavior: Discussing the oligopolistic market," International Review of Economics Education, Elsevier, vol. 22(C), pages 8-15.

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