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Imitation - Theory and Experimental Evidence

Apesteguia, José; Huck, Steffen; Oechssler, Jörg - 2003

We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different...

Persistent link: https://www.econbiz.de/10010270576

Imitation and the evolution of Walrasian behavior: theoretically fragile but behaviorally robust

Apesteguia, José; Huck, Steffen; Oechssler, Jörg; … - 2008

A well-known result by Vega-Redondo (1997) implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian outcome where price equals marginal cost. In this paper, we show that this result is not robust to the slightest asymmetry in fixed costs. Instead of obtaining the Walrasian...

Persistent link: https://www.econbiz.de/10010270592

Imitation - Theory and Experimental Evidence -

Apesteguia, Jose; Huck, Steffen; Oechssler, Jörg - 2005

We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules....

Persistent link: https://www.econbiz.de/10011422119

Imitation and the Evolution of Walrasian Behavior: Theoretically Fragile but Behaviorally Robust

Apesteguia, Jose; Huck, Steffen; Oechssler, Jörg; … - 2007

A well-known result by Vega-Redondo implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian outcome where price equals marginal cost. In this paper we show that this result is not robust to the slightest asymmetry in fixed costs. Instead of obtaining the Walrasian outcome...

Persistent link: https://www.econbiz.de/10011422170

Imitation - Theory and Experimental Evidence

Apesteguia, Jose; Huck, Steffen; Oechssler, Jörg - Alfred-Weber-Institut für Sozial- und … - 2005

We introduce a generalized theoretical approach to study imitation andsubject it to rigorous experimental testing. In our theoretical analysiswe nd that the different predictions of previous imitation models aredue to different informational assumptions, not to different behavioralrules. It is...

Persistent link: https://www.econbiz.de/10005868466

Through trial & error to collusion : the discrete case

Huck, Steffen; Normann, Hans-Theo; Oechssler, Joerg - 2000

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/10011538701

On the dynamic foundation of evolutionary stability in continuous models

Oechssler, Joerg; Riedel, Frank - 2000

We show in this paper that none of the existing static evolutionary stability concepts (ESS, CSS, uninvadability, NIS …) is sufficient to guarantee dynamic stability in the weak topology with respect to standard evolutionary dynamics if the …. Evolutionary robustness ensures dynamic stability for replicator dynamics in doubly symmetric games. …

Persistent link: https://www.econbiz.de/10011539103

Cooperation as a result of learning with aspiration levels

Oechssler, Joerg - 2001

It is shown that a win-stay, lose-hift behavior rule with endogenous aspiration levels yields cooperation in a certain class of games. The aspiration level in each round equals the current population average. The class of games includes the prisoner's dilemma and Cournot oligopoly and thus...

Persistent link: https://www.econbiz.de/10011539809

Two are few and four are many : number effects in experimental oligopolies

Huck, Steffen; Normann, Hans-Theo; Oechssler, Joerg - 2001

In this paper we investigate how the competitiveness of Cournot markets varies with the number of firms in an industry. We review previous Cournot experiments in the literature. Additionally, we conduct a new series of experiments studying oligopolies with two, three, four, and five firms in a...

Persistent link: https://www.econbiz.de/10011539897

Imitation : theory and experimental evidence

Alpesteguia, Jose; Huck, Steffen; Oechssler, Joerg - 2003

We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to different informational assumptions, notto different...

Persistent link: https://www.econbiz.de/10011509505