(i) Period 2 - 8

(ii) Period 9 - 15

My strategy in period t

My strategy in period t

Other firm strategy in period t-1

LB

HB

LA

HA

N (obs.)

Other firm strategy in period t-1

LB

HB

LA

HA

N (obs.)

LB

0%

0%

33%

67%

3

LB

n/a

n/a

n/a

n/a

0

HB

0%

82%

6%

12%

17

HB

0%

87%

0%

13%

15

LA

3%

0%

83%

14%

71

LA

0%

1%

92%

7%

89

HA

0%

3%

46%

51%

35

HA

0%

0%

32%

68%

22