play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …

play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …

We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators …

We present a formal model of symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and …

beaten by any strategy. We provide necessary and sufficient conditions for imitation to be unbeatable in the sense that there … is no strategy that can exploit imitation as a money pump. In particular, imitation is subject to a money pump if and … condition for imitation not being subject to a money pump is that the relative payoff game is a generalized ordinal potential …

heuristic (Cournot best-response) and the stable one (imitation) and on the intensity of the evolutionary pressure. When this … cost differential is positive (i.e., imitation is relatively cheaper vis a vis Cournot), most firms use this heuristic and … (imitation is more expensive than Cournot), complicated quantity fluctuations, along with the co-existence of heuristics, arise …

choices with data on the information acquisition process they follow. Subjects play a repeated Cournot oligopoly, with limited …

to the Cournot equilibrium. We also illustrate these general results by systematic computational experiments …Convergence to the Nash equilibrium in a Cournot oligopoly is a question that recurrently arises as a subject of … with adjustment dynamics, and the evolutionary stability of the equilibria of the Cournot game have been extensively …

beaten by any other decision rule. We provide necessary and sufficient conditions for imitation to be unbeatable and show …, like 2x2 games, Cournot duopoly, price competition, rent seeking, public goods games, common pool resource games, minimum … effort coordination games, arms race, search, bargaining, etc., imitation cannot be beaten by much even by a very clever …