Dixon, Huw David; Wallis, Steven; Moss, Scott - In: Computational Economics 20 (2002) 3, pp. 139-56
This paper explores the implication of evolutionary models (replicator dynamics) in a simple Cournot duopoly model. A firm type is a linear decision rule in which the firm's output depends on the other firm's previous output. First we run an Axelrod Tournament between firm types. The champion...