Misspecified explore-then-exploit pricing with monopoly-style demand estimation leads to supra-competitive prices when firms explore similar price ranges on the same side of the Nash price.
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Misspecified Explore-then-Exploit Leads to Supra-Competitive Prices
Misspecified explore-then-exploit pricing with monopoly-style demand estimation leads to supra-competitive prices when firms explore similar price ranges on the same side of the Nash price.