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Les modèles de comportements adaptatifs appliqués à l'oligopole de Cournot

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Author Info

  • Pascal Billand

    ()
    (CREUSET - Centre de Recherche Economique de l'Université de Saint Etienne - Université Jean Monnet - Saint-Etienne : EA3724)

  • Christophe Bravard

    ()
    (CREUSET - Centre de Recherche Economique de l'Université de Saint Etienne - Université Jean Monnet - Saint-Etienne : EA3724)

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    Abstract

    This paper examines a recurrent oligopoly game, where firms imitate the most successful behaviors in their memory. We intend to characterize stochastically stable states. Several models are considered which differ in the specification of players' memory. We note that the specification of memory plays a key role in the selection of the stochastically stable states. Moreover, in most cases, the Cournot-Nash equilibrium is not the unique stochastically stable state, and there exist cases where this equilibrium does not belong to the set of stochastically stable states.

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    File URL: http://hal-ujm.ccsd.cnrs.fr/docs/00/12/16/58/PDF/bravbil06.pdf
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    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number ujm-00121658.

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    Date of creation: 2006
    Date of revision:
    Publication status: Published, Revue d'Economie Industrielle, 2006, 114-115, 161-183
    Handle: RePEc:hal:journl:ujm-00121658

    Note: View the original document on HAL open archive server: http://hal-ujm.ccsd.cnrs.fr/ujm-00121658/en/
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    Related research

    Keywords: Imitation; Oligopole de Cournot; jeux évolutionnaires;

    References

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    1. Rhode, Paul & Stegeman, Mark, 2001. "Non-Nash equilibria of Darwinian dynamics with applications to duopoly," International Journal of Industrial Organization, Elsevier, vol. 19(3-4), pages 415-453, March.
    2. Josephson, Jens & Matros, Alexander, 2000. "Stochastic Imitation in Finite Games," Working Paper Series in Economics and Finance 363, Stockholm School of Economics, revised 26 Nov 2002.
    3. David M. Kreps & Jose A. Scheinkman, 1983. "Quantity Precommitment and Bertrand Competition Yield Cournot Outcomes," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 326-337, Autumn.
    4. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    5. Burkhard Schipper, 2002. "Submodularity and the Evolution of Walrasian Behavior," Bonn Econ Discussion Papers bgse4_2003, University of Bonn, Germany.
    6. Alos-Ferrer, Carlos & Ania, Ana B. & Schenk-Hoppe, Klaus Reiner, 2000. "An Evolutionary Model of Bertrand Oligopoly," Games and Economic Behavior, Elsevier, vol. 33(1), pages 1-19, October.
    7. Tanaka, Yasuhito, 2001. "Evolution to equilibrium in an asymmetric oligopoly with differentiated goods," International Journal of Industrial Organization, Elsevier, vol. 19(9), pages 1423-1440, November.
    8. Fernando Vega-Redondo, 1997. "The Evolution of Walrasian Behavior," Econometrica, Econometric Society, vol. 65(2), pages 375-384, March.
    9. Xavier Vives, 2001. "Oligopoly Pricing: Old Ideas and New Tools," MIT Press Books, The MIT Press, edition 1, volume 1, number 026272040x, December.
    10. Cheng-Zhong Qin & Charles Stuart, 1997. "Bertrand versus Cournot revisited," Economic Theory, Springer, vol. 10(3), pages 497-507.
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