TY  - JOUR
A1  - Orland, Andreas
A1  - Selten, Reinhard
T1  - Buyer power in bilateral oligopolies with advance production: Experimental evidence
JF  - Applied surface science : a journal devoted to applied physics and chemistry of surfaces and interfaces
N2  - We conduct experiments based on the oligopoly model by Kreps and Scheinkman (1983) to assess the impact of demand side concentration on market outcomes. Both buyers and sellers in our markets are humans. The number of firms is fixed at three in all treatments. Only the number of buyers is varied and total demand is split equally among them. We observe that firms set lower prices in markets with only few buyers, namely one or two. Price dispersion is higher in markets with few buyers. Aggregate demand withholding decreases with the number of buyers. This results in lower profits for firms and higher profits for buyers in markets with few buyers. (C) 2015 Elsevier B.V. All rights reserved.
KW  - Buyer power
KW  - Demand structure
KW  - Oligopoly
KW  - Advance production
KW  - Laboratory experiment
Y1  - 2016
U6  - https://doi.org/10.1016/j.jebo.2015.11.016
SN  - 0167-2681
SN  - 1879-1751
VL  - 122
SP  - 31
EP  - 42
PB  - Elsevier
CY  - Amsterdam
ER  - 
TY  - JOUR
A1  - Orland, Andreas
T1  - Personality traits and the perception of macroeconomic indicators
BT  - Survey Evidence
JF  - Bulletin of Economic Research
N2  - I examine the determinants of both perceived inflation and unemployment in one single survey and include Big Five traits in the analysis. This is the first survey on this topic in Germany. My sample consists of 1771 students from different fields and levels. Using PhD students’ estimates as a reference, I create categories for underestimation and overestimation of both variables. Multinomial logit regressions show that females overestimate both variables. Education and news consumption reduce misestimation. A higher level of Neuroticism is related with a higher probability to overestimate unemployment. Overstating (understating) one indicator is associated with overstating (understating) the other.
KW  - cross-sectional heterogeneity
KW  - inflation perception
KW  - personality traits
KW  - unemployment perception
Y1  - 2016
U6  - https://doi.org/10.1111/boer.12110
SN  - 0307-3378
SN  - 1467-8586
VL  - 69
IS  - 4
SP  - E150
EP  - E172
PB  - Wiley
CY  - Hoboken
ER  -