RT Journal Article
T1 Conditioning competitive behaviour in experimental Bertrand markets through contextual frames
A1 Jiménez-Jiménez, Francisca
A1 Rodero-Cosano, Francisco Javier
K1 Economía de mercado
AB Explaining framing effects is one of the main challenges faced by decision theories. This research experimentally examines how different contextual frames influence competitive behaviour in a Bertrand duopolygame (repeatedly played under a stranger matching), unexplored so far. The design comprises four frames:one abstract (a beauty-contest framing), two meaningful (the standard Bertrand framing and an access-to-riverframing) and one evocative (a take-from-fund framing). Our findings show that, at first, the evocative framedifferentiates from the rest mostly in market prices. While the evocative frame induces subjects to behavecloser to the theoretical predictions initially, the others need some repetitions until convergence is achieved.Differences across frames eventually vanish at the end. During the transition, in the Bertrand frame, a quickerdecay in prices is observed due to the behavioural reactions to historical market prices. Lastly, irrespectivelyof frames, behavioural reactions to immediate past information allow to explain strategic interaction in thelong-run: a force-balance situation which is consistent with the related literature on price floors in Bertrandgames.
PB Elsevier
YR 2023
FD 2023
LK https://hdl.handle.net/10630/26361
UL https://hdl.handle.net/10630/26361
LA eng
NO Jiménez-Jiménez, & Rodero-Cosano, J. (2023). Conditioning competitive behaviour in experimental Bertrand markets through contextual frames. Journal of Behavioral and Experimental Economics, 103. https://doi.org/10.1016/j.socec.2023.101987
NO This research was funded by the Spanish Ministery of Science RTI2018-097620-B-I00, PID2021-127736NB-I00 and Junta de Andalucía projects, SpainP18-FR-3840 and UMA18-FEDERJA-243. Funding for open access charge: Universidad de Málaga/CBUA, Spain
DS RIUMA. Repositorio Institucional de la Universidad de Málaga
RD 20 ene 2026