Pricing_Simulation_Result_1112

Pricing_Simulation_Result_1112 - Pricing Simulation Firm...

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Pricing Simulation
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Firm Profits in the Pricing Game 7 teams, price from 0 to 100 If your posted price is not the lowest, Profits= [(Lowest Price in the Market – 20)*5 customers] - 15 If your posted price is the lowest, Profits=[(Your Posted Price - 20)*5] + 15 In the event that more than one firm post the same lowest price,
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3 Sections 4 Sections 4 sections 4 sections Study Design 15pts 8pts Disclose d after Round 3 Disclose d after Round 1 Price Distributio n
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Summary Statistics
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 15 and Disclosed After Round 3 Average Posted Price Round 1 Round 2 Round 3 Round 4 Round 5 1 15 22 28 31 17 2 22 8 6 15 43 3 20 27 21 34 56 Average 25 18 18 27 39 Round 1 Round 2 Round 3 Round 4 Round 5 2 0 0 0 0 0 3 17 0 0 0 0 4 0 0 0 0 0 Average Min 9 4 0 0 0 Minimum Prices
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 8 and Disclosed After Round 3 Average Posted Price Minimum Prices Round 1 Round 2 Round 3 Round 4 Round 5 1 31 23 18 35 21 2 56 42 40 24 25 3 19 24 3 28 14 4 19 15 41 17 35 Average 32 26 25 26 24 Round 1 Round 2 Round 3 Round 4 Round 5 1 18 0 0 0 0 2 20 19 8 1 0 3 19 0 0 0 0 4 18 0 0 0 0 Average Min 19 5 2 0 0
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