Huck, Steffen; Normann, Hans-Theo; Oechssler, Jörg - In: International Journal of Game Theory 31 (2002) 1, pp. 123-136
We report results of experiments designed to test the predictions of the best-reply process. In a Cournot oligopoly … with four firms, the best-reply process should theoretically explode if demand and cost functions are linear. We find …