Simulating the Ecology of Oligopoly Games with Genetic Algorithms
This paper extends the N -person IPD game into a more interesting one in economics: the oligopoly game. Due to its dynamics of market share, the oligopoly game is more complicated and need not be exactly an N -person IPD game. Using genetic algorithms, we simulate oligopoly games under various settings. It is found that, even in the case of the three-oligopolist (three-player) game, collusive pricing (cooperation) is not the most dominating result.