Paper #230

Títol:

An experimental study of adaptive behavior in an oligopolistic market game

Autors:

Rosemarie Nagel i Nicolaas J. Vriend

Data:

Juliol 1997

Resum:

We consider an oligopolistic market game, in which the players are competing firm in the same market of a homogeneous consumption good. The consumer side is represented by a fixed demand function. The firms decide how much to produce of a perishable consumption good, and they decide upon a number of information signals to be sent into the population in order to attract customers. Due to the minimal information provided, the players do not have a well--specified model of their environment. Our main objective is to characterize the adaptive behavior of the players in such a situation.

Paraules clau:

Market game, oligopoly, adaptive behavior, learning, Leex

Codis JEL:

C7, C9, D8

Àrea de Recerca:

Economia Experimental i del Comportament

Publicat a:

Journal of Evolutionary Economics, 9, Issue 1, p. 27-65, 1999

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