Price-Quantity Competition and Edgeworth Cycles

I consider markets in which eight firms compete deciding simultaneously on price and quantity with a given capacity. I got eight independent experimental data. At any of 65 rounds the same eight firms met each other in the same market. If a firm made high enough losses it went bankrupt and left the market. In this case capacity was distributed among surviving firms following a proportional profit rule. The data exhibit strong cycles in price and quantity offered that resemble Edgeworth cycles. JEL classification: C91, D43