Part 1 Instructions - Page 1 of 4
This part of the experiment,
of 3, consists of
The experiment is for
players, who are both
in the same market. Your earnings depend on the decisions made by
the other seller
You will be matched with
in all 10 rounds
, who will be selected
from the other participants.
You begin each round by choosing a
inclusive. You cannot see the other seller's price when choosing your price and vice versa.
The buyer purchases from the seller who demands the
. The quantity purchased is
to the price: the higher the price, the lower the quantity. If more than one seller ties for the lowest price, the quantity is divided equally between them.
If your price is the lower, your
is defined by the following formula:
Your sales quantity = 15.00 - (lower price).