The evolution of walrasian behavior

Consider an evolutionary context where a given number of quantity-setting oligopolists tend to mimic successful behavior, occasionally experimenting with some small probability. In this context, it is shown that the unique long-run outcome of the process has all firms playing Walrasian, i.e., choosing an output that maximizes profits when taking the market-clearing price as given.

MoreLess

Year of publication:	1996-01
Authors:	Redondo, Fernando Vega
Institutions:	Instituto Valenciano de Investigaciones Económicas (IVIE)
Subject:	Walrasian \| evolution \| coumot \| mutation \| imitation

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Working Papers. Serie AD.
Type of publication:	Book / Working Paper
Notes:	Published by Ivie 20 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008542857