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Spatial Competition with Three Firms: An Experimental Study

Author

Listed:
  • Collins, R.
  • Sherstyuk, K.

Abstract

The paper reports the results of an experimental study of the three firm location problem. We compare the subjects' behavior in the experiments with the symmetric mixed strategy Nash equilibrium calculated by Shaked (1982). Overall, the findings are consistent with the equilibrium prediction. However, the subjects' locations were significantly more dispersed than predicted by the theory.

Suggested Citation

  • Collins, R. & Sherstyuk, K., 1998. "Spatial Competition with Three Firms: An Experimental Study," Department of Economics - Working Papers Series 631, The University of Melbourne.
    • Handle: RePEc:mlb:wpaper:631
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    Keywords

    NASH EQUILIBRIUM ; COMPETITION;

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium

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