60

Phase 2: Free entry and exit

10

20

Quantity 30 40

50

Phase 1: Closed markets

0

n=1 n=3 0

5

n=2 n=4 10 Period

15

Source: Gächter/Thöni/Tyran 2006. Cournot Competition and Hit-and-Run Entry and Exit in a Teaching Experiment. Journal of Economic Education.

20

0 10 20 30 40 50 60 Quantity 0 5 10 15 20 Period n = 1 ...

Page 1. Phase 1: Closed markets. Phase 2: Free entry and exit. 0. 10. 20. 30. 40. 50. 60. Quantity. 0. 5. 10. 15. 20. Period n = 1 n = 2 n = 3 n = 4. Source: Gächter/Thöni/Tyran 2006. Cournot Competition and Hit-and-Run. Entry and Exit in a Teaching Experiment. Journal of Economic Education.
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