An Evolutionary Cournot Oligopoly Model with Imitators and Perfect Foresight Best Responders.
نویسندگان
چکیده
منابع مشابه
Imitators and Optimizers in Cournot Oligopoly
We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round a là Vega-Redondo (1997). Optimizers play a myopic best response to the opponents’ previous output. Firms are allowed to make mistakes and deviate from the decision rules with a small probability. Appl...
متن کاملImitators and Optimizers in Symmetric n-Firm Cournot Oligopoly
I present a formal model of symmetric n-firm Cournot oligopoly. Instead of assuming a homogeneous population of profit maximizing firms, the set of firms is divided into two subpopulations of either imitators or optimizers. Imitators mimic the output decision of the most successful firms of the previous round. Optimizers are myopic best response players to the previous market output. The dynami...
متن کاملSecond Best Trade Policies in Cournot Oligopoly
In this paper we study the optimal import policy in an oligopolistic market with a given number of quantity-setting firms. In the absence of fixed costs, we show that if the policy instrument is an import quota, the optimal policy is either free trade or autarky, while if the instrument is a tariff the optimal policy is neither free trade nor autarky. In the case of fixed costs, we show that co...
متن کاملCournot Oligopoly with Network Effects
The nature of competition is quite different in network industries as compared to the other, more traditional, ones. The purpose of the present paper is to thoroughly examine the implications of these differences as reflected in the dependence of equilibrium outputs, price and profits on industry concentration. We restrict the analysis to oligopolistic competition amongst firms in a market char...
متن کاملMultiproduct Cournot Oligopoly
We present a general model of oligopolistic quantity competition in which each firm is able to produce multiple quality-differentiated products. We identify a tight relationship between asymmetries in the technological capabilities of firms and the equilibrium structure of product lines. The qualities offered by a firm group naturally into brands, and the positions of such brands are determined...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2019
ISSN: 1556-5068
DOI: 10.2139/ssrn.3383549