The paper shows that there is a close connection between (constant)consistent conjectures in a given game and evolutionary stabilityof conjectures. Evolutionarily stable conjectures are consistent andconsistent conjectures are the only interior candidates for evolutionarystability...

This paper examines the validity of alternative assumptions aboutpublic enterprise strategies in the presence of both domestic and internationalcompetition. It extends the quantity-setting game to apreplay stage and endogenizes the firms’ order of moves to show thati) Cournot competition is...

This paper compares Bertrand and Cournot equilibria in a horizontallydifferentiated duopoly market with non-tournament R&D competition. We consider thatsuccess in R&D is uncertain. We show that whether firms invest more under Cournotcompetition or Bertrand competition is ambiguous and depends on...

Player i's payoff in a noncooperative game is generally expressed as a function of thevector of strategies of all players. However, in some games - 'simply reducible games' - thepayoff of player i is a function of two arguments - the strategy chosen by i, and the sum ofthe strategies of all...

This note develops a method of recovering individual preferences, and of obtaining money-metricindividual welfare comparisons, from demand functions generated by Cournot-Nash equilibria ingames with public goods.