We thank Uwe Dulleck, Dan Friedman, Heike Harmgart, Philippe Jehiel, Dorothea Kübler, Jörg Oechssler, Andreas Ortmann, Reinhard Selten, and Georg Weizsäcker for many helpful comments and we are grateful to two anonymous referees and Leonardo Felli who helped to improve this paper further. Thanks are also due to participants of the 2001 ESA meetings in San Antonio and Barcelona and the 2001 SEA meeting in Tampa as well as to seminar participants at Amsterdam (Tinbergen), Bonn, CERGE-EI, Connecticut, Essex, Groningen, Helsinki, Humboldt University, LSE, Magdeburg, Nottingham, NYU, Oxford, Royal Holloway, Rutgers, the Stockholm School of Economics, Tilburg, UCL, and the University of Vienna. The usual caveat applies. Huck acknowledges financial support from the ESRC via ELSE and the Leverhulme Trust. Konrad acknowledges financial support from the German Science Foundation (DFG grant SFB-TR-15). An earlier version of this article circulated under the title ‘Mergers and the perception of market power: An experimental study’.
The Merger Paradox and why Aspiration Levels Let it Fail in the Laboratory*
Article first published online: 2 JUL 2007
The Economic Journal
Volume 117, Issue 522, pages 1073–1095, July 2007
How to Cite
Huck, S., Konrad, K. A., Müller, W. and Normann, H.-T. (2007), The Merger Paradox and why Aspiration Levels Let it Fail in the Laboratory. The Economic Journal, 117: 1073–1095. doi: 10.1111/j.1468-0297.2007.02067.x
- Issue published online: 2 JUL 2007
- Article first published online: 2 JUL 2007
- Submitted: 2 August 2004 Accepted: 15 February 2006
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