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Within a simple model of homogeneous oligopoly, we show that the traditional ranking between Bertrand and Cournot …
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The article proposes an evolutionary game theoretical analysis of quality and price competition in oligopoly. Using the … second, quality is produced by variable costs. Therefore, in the context of a symmetric oligopoly game where each firm has …
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The paper examines an interaction of boundedly rational firms that are able to calculate their gains after reaction of an opponent to their own deviations from the current strategy. We consider an equilibrium concept that we call a Nash-2 equilibrium. We discuss the problem of existence and...
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