Cournot competition and endogenous firm size
نویسندگان
چکیده
منابع مشابه
Cournot Competition and Endogenous Firm Size∗
We model the firm as a type of artificial neural network that plays a repeated Cournot game. Each period the firm must learn to map environmental signals to both demand parameters and it’s rival’s output choice. In this paper, though, this Cournot game is in the ’background,’ as we focus on the endogenous adjustment of network size. We investigate the long-run behavior of firm/network size as a...
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متن کاملNetwork Cournot Competition
Cournot competition, introduced in 1838 by Antoine Augustin Cournot, is a fundamental economic model that represents firms competing in a single market of a homogeneous good. Each firm tries to maximize its utility—naturally a function of the production cost as well as market price of the product—by deciding on the amount of production. This problem has been studied comprehensively in Economics...
متن کاملCournot Competition under Uncertainty∗
We analyze Cournot competition under demand uncertainty. We show that under rather general assumptions, the game has no asymmetric equilibria but multiple symmetric equilibria. Multiplicity is caused by the requirement of nonnegative prices and remains an issue also for simple demand specifications, such as the linear case. We then show that uniqueness of equilibrium is guaranteed if uncertaint...
متن کاملCournot Competition, Organization and Learning∗
We model firms’ output decisions in a repeated duopoly framework focussing on three interrelated issues: 1) the role of learning in the adjustment process toward equilibrium, 2) the role of organizational structure in organizational decision making, and 3) the role of changing environmental conditions on learning and output decisions. We model the firm as a type of artificial neural network, wh...
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ژورنال
عنوان ژورنال: Journal of Evolutionary Economics
سال: 2008
ISSN: 0936-9937,1432-1386
DOI: 10.1007/s00191-008-0111-y