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In this experiment, we analyze strategic delegation in a Cournot duopoly. Owners can choose among two different …
Persistent link: https://www.econbiz.de/10010983508
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of...
Persistent link: https://www.econbiz.de/10010983493