BERTRAND COMPETITION WITH ASYMMETRIC MARGINAL COSTS
通过实验室实验检验三种不对称成本双寡头定价博弈的预测，发现成本差异越小，市场价格越高，并用量化反应均衡模型验证这一直觉。
This article tests the prediction of three discrete asymmetric duopoly price competition games in the laboratory. The games differ from each other in terms of the size of the cost asymmetry that induces a systematic variation in the difference between the firms' marginal costs. While the standard theory requires the low‐cost firm to set a price just equal to the high‐cost firm's marginal cost, which is identical across all three games, and win the entire market, intuition suggests that market price may increase with a decrease in the absolute difference between the two marginal costs. We develop a quantal response equilibrium model to test our competing conjecture.