In this paper we introduce a conception of learning which is a natural extension of economists' representations of learning and which is natural to develop using KBS technology. In the particular form of KBS we use, rule conditions and actions are well‐formulated formulae of first‐order...

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...

This paper adopts an evolutionary perspective on the rent-extraction model with conjectural variations (CV). We analyze the global dynamics of the model with three CVs under the replicator equation. We find that the end points of the evolutionary dynamics include the pure-strategy consistent...

This paper adopts an evolutionary perspective on the rent-extraction model with conjectural variations (CV) allowing for mixed-strategies. We analyze the dynamics of the model with n CVs under the replicator equation. We find that the end points of the evolutionary dynamics include the...

In a recent paper, Michael Kiley argued that the Calvo model of price adjustment is both quantitatively and qualitatively different from the Taylor model. What we show is that Kiley (along with most other people) are choosing the wrong parameterization to compare the two models. In effect they...

In this paper we consider the impact of the regulation of telephony on Haan's [2001] analysis of the economics of free internet access. Haan considers an unregulated market, and finds that free internet access is compatible with an efficient outcome and avoids the double marginalization problem....

This paper introduces the class of mean defined supermodular games. The characteristic feature of these games is that, given an order on the strategy sets of the players, the payoff to each player depends on his own strategy and the average of the population play. We characterise the set of the...