Imitation of successful behaviour in cournot markets
AbstractIn an experimental standard Cournot oligopoly we test the importance of models of behaviour characterised by imitation of successful behaviour, in particular when the environment becomes more complex. We find that the players do not rely more on imitation in more demanding environments. We explain that the different pattern of output decisions in such environments seems predominantly related to a general disorientation of the players, and more specifically to a significant decrease of best-responses. Copyright 2003 Royal Economic Society.
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Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 113 (2003)
Issue (Month): 487 (04)
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Other versions of this item:
- Antoni Bosch-Domènech & Nicolaas J. Vriend, 1998. "Imitation of succesful behavior in Cournot markets," Economics Working Papers 269, Department of Economics and Business, Universitat Pompeu Fabra, revised May 1999.
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- C9 - Mathematical and Quantitative Methods - - Design of Experiments
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
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