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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/10009580461
In theory, the incidence of a tax should be independent of which side of the market it is levied on. This principle of …
Persistent link: https://www.econbiz.de/10009582390
, while the second contract gives an additional sales bonus. Although theory predicts the second contract to be chosen, it is …
Persistent link: https://www.econbiz.de/10009583883
setting behavior is in general consistent with the theory. Capacities converge above the Cournot level. Sellers rarely manage …
Persistent link: https://www.econbiz.de/10009612564