Walrasian versus Cournot behavior in an oligopoly of boundedly rational firms
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DOI: 10.1007/s00191-017-0536-2
Abstract: An evolutionary oligopoly game, where firms can select between the best-reply rule and the Walrasian rule, is considered. The industry is characterized by a finite number of ex-ante homogeneous firms that, characterized by naïve expectations,… read more here.
Keywords: reply rule; equilibrium; cournot nash; best reply ... See more keywords