Paper #230

Título:

An experimental study of adaptive behavior in an oligopolistic market game

Autores:

Rosemarie Nagel y Nicolaas J. Vriend

Fecha:

Julio 1997

Resumen:

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.

Palabras clave:

Market game, oligopoly, adaptive behavior, learning, Leex

Códigos JEL:

C7, C9, D8

Área de investigación:

Economía Experimental y del Comportamiento

Publicado en:

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

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