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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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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, Proceedings Item or annotation in a legal commentary
Creators:	Creators Email ORCID ORCID Put Code Engel, Christoph UNSPECIFIED UNSPECIFIED UNSPECIFIED Ockenfels, Axel UNSPECIFIED orcid.org/0000-0003-1456-0191 UNSPECIFIED
Editors:	Editors Email ORCID ORCID Put Code Buskens, Vincent UNSPECIFIED UNSPECIFIED UNSPECIFIED Corten, Rense UNSPECIFIED UNSPECIFIED UNSPECIFIED Snijders, Chris UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-251189
DOI:	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:	Publication
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