4 ms·
I think real life markets are much different than this experiment because: 1) Repeated trials in the game lets past loosers punish past winners (i.e. Ashley wi
by mavelikara 17y ago
I think real life markets are much different than this experiment because:
1) Repeated trials in the game lets past loosers punish past winners (i.e. Ashley will get more than boos in subsequent trials).
2) Players get to observe the world better in real world than what secret bids in this game allows.
I am still unconvinced that collusion and price fixing is difficult as the title suggests.
- cwan 17y agoOPEC, probably the most famous example of a cartel, is notorious for having members "cheat".
- hristov 17y agoAnd yet they are completely capable of raising oil prices by merely sending out a press release or two.
- lupin_sansei 17y agoThey lost the ability in the 80s really. Too much non-Opec oil around now. And it hurt Opec in the long term as oil usage got much more efficient after the oil shocks http://www.wtrg.com/opecshare.html http://www.wtrg.com/opecshare.html
- s3graham 17y agohttp://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publicatio... Alberta, on the other hand, might have some luck with a press release.
- known 17y agoI think collusion depends on the amount in stake. For e.g I think Intel, Microsoft & Cisco have colluded by not venturing into others business.