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Evolutionary stability in asymmetric oligopoly : a non-Walrasian result

Leininger, Wolfgang; Moghadam, Hamed M. - 2014

It is a very well-known result that in terms of evolutionary stability the long-run outcome of a Cournot oligopoly …. Contrary to Tanaka (1999) we show that the evolutionarily stable price in an asymmetric Cournot oligopoly needs not equal the … order to transform the game with asymmetric firms into a symmetric oligopoly game and then extend Schaffer’s definition …

Persistent link: https://www.econbiz.de/10010399434

Evolutionary Oligopoly Games with Heterogeneous Adaptive Players : Two Examples

Bischi, Gian Italo - 2016

In this paper, we analyze the properties of evolutionary switching models for oligopoly games, where boundedly rational … fixed points of the corresponding dynamic processes. The population of firms in the oligopoly is subdivided into fractions …

Persistent link: https://www.econbiz.de/10012993870

Imitation : theory and experimental evidence

Alpesteguia, Jose; Huck, Steffen; Oechssler, Joerg - 2003

We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to different informational assumptions, notto different...

Persistent link: https://www.econbiz.de/10011509505

Adverse selection, heterogeneous beliefs, and evolutionary learning

Buchen, Clemens; Palermo, Alberto - 2021

We relax the common assumption of homogeneous beliefs in principal-agent relationships with adverse selection. Principals are competitors in the product market and write contracts also on the base of an expected aggregate. The model is a version of a cobweb model. In an evolutionary learning...

Persistent link: https://www.econbiz.de/10012607986

A Note on Evolutionary Stability of Bertrand Equilibrium

Hehenkamp, Burkhard; Leininger, Wolfgang - 1999

It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...

Persistent link: https://www.econbiz.de/10014184323

Imitation and the evolution of Walrasian behavior : theoretically fragile but behaviorally robust

Apesteguia, Joe; Huck, Steffen; Oechssler, Joerg; … - 2007

A well-known result by Vega-Redondo implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian …

Persistent link: https://www.econbiz.de/10003593007

Imitation : theory and experimental evidence

Apestgeguia, Jose; Huck, Steffen; Oechssler, Joerg - 2005

laboratory experiment we test the different theories by systematically varying information conditions. We find significant … effects of seemingly innocent changes in information. Moreover, the generalized imitation model predicts the differences …

Persistent link: https://www.econbiz.de/10010366552