RT info:eu-repo/semantics/article T1 Testing oligopoly theory in the Lab A1 Georgantzis, Nikolaos A2 Ediciones Universidad de Valladolid K1 Economía política K1 Economía de empresa AB Previous experimental results are reviewed to address the extent to which oligopolistic equilibria are good predictors of behavior observed in labe ratory experiments with human agents. Although the theory is unrealistically demanding with respect to the agents7 informational and rational endowments, experimental results obtained in more realistic settings with subjects using trial-anderror decision mechanisms tend to confirm predictions of simple symmetric theoretical models. However, in the presence of more complex and/or asymmetric environments, systematic deviations are observed between theoretical predictions and experimental results. Certainly, more effort should be made by al1 parties involved to build a bridge between theoretical predictions and the behavior ob-served in the lab in order to assist both the theorist and the policy maker; the former to enrich theoretical models including the behavioral factors identified by experimentalists and the latter to gain insights on the strengths and weaknesses of theory in predicting human behavior in the marketplace SN 0213-7569 YR 2006 FD 2006 LK http://uvadoc.uva.es/handle/10324/19792 UL http://uvadoc.uva.es/handle/10324/19792 LA spa NO Anales de estudios económicos y empresariales, 2006, N.16, pags.37-74 DS UVaDOC RD 22-dic-2024