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The paper presents the concept of an imitation equilibrium and explores it in the context of some simple oligopoly …
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A well-known result by Vega-Redondo implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian …
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oligopoly, with limited information. The econometrics hinges on a model built upon EWA learning, and simultaneously analyzing …
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choices with data on the information acquisition process they follow. Subjects play a repeated Cournot oligopoly, with limited …
Persistent link: https://www.econbiz.de/10014162117
choices with data on the information acquisition process they follow. Subjects play a repeated Cournot oligopoly, with limited …
Persistent link: https://www.econbiz.de/10013088340
We report results of experiments designed to test the predictions of the best reply process. In a Cournot oligopoly …
Persistent link: https://www.econbiz.de/10011539705
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