Engel, Christoph and Ockenfels, Axel ORCID: 0000-0003-1456-0191 (2020). Maverick: Experimentally Testing a Conjecture of the Antitrust Authorities. In: Advances in the Sociology of Trust and Cooperation, pp. 357-390. Berlin, Boston: De Gruyter. ISBN 978-3-11-064749-5

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Identification Number:10.1515/9783110647495-016

Abstract

Antitrust authorities all over the world are keen on the presence of a particularly aggressive competitor, a “maverick”. Yet there is a lack of theoretical justification. One plausible determinant of acting as a maverick is behavioral: the maverick derives utility from acting competitively. We test this conjecture in the lab. In a pretest, we classify participants by their social value orientation. Individuals who are rivalistic in an allocation task indeed bid more aggressively in a laboratory oligopoly market. This disciplines incumbents. We conclude that the existence of rivalistic attitudes may justify antitrust policies that protect mavericks.

Item Type: Book Section
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Engel, Christoph
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Ockenfels, Axel
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https://orcid.org/0000-0003-1456-0191
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Buskens, Vincent
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Corten, Rense
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Snijders, Chris
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URN: urn:nbn:de:hbz:38-251189
Identification Number: 10.1515/9783110647495-016
Title of Book: Advances in the Sociology of Trust and Cooperation
Page Range: pp. 357-390
Number of Pages: 450
Date: 2020
Publisher: De Gruyter
Place of Publication: Berlin, Boston
ISBN: 978-3-11-064749-5
Language: English
Faculty: Faculty of Management, Economy and Social Sciences
Divisions: Faculty of Management, Economics and Social Sciences > Economics > Microeconomics, Institutions and markets > Professorship 1 for Economics
Center of Excellence C-SEB
Subjects: Generalities, Science
Economics
Related URLs:
Funders: Horizon 2020 ERC-2016-ADG No. 741409
Projects: Economic Engineering of Cooperation in Modern Markets/ERC-2016-ADG No. 741409
Refereed: Yes
URI: http://kups.ub.uni-koeln.de/id/eprint/25118

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