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Cournot Competition and Endogenous Firm Size

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Author Info
Jason Barr ()
Francesco Saraceno ()

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Abstract

We study the dynamics of firm size in a repeated Cournot game with unkown demand function. We model the firm as a type of artificial neural network. Each period it must learn to map environmental signals to both demand parameters and its rival's output choice. But this learning game is in the background, and we focus on the endogenous adjustment of network size. We investigate the long-run behavior of firm/network size as a function of profits, rival's size, and the type of adjustment rules used.

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File URL: http://www.rutgers-newark.rutgers.edu/econnwk/workingpapers/2005-001.pdf
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Publisher Info
Paper provided by Department of Economics, Rutgers University, Newark in its series Working Papers Rutgers University, Newark with number 2005-001.

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Length: 31 pages
Date of creation: Jan 2005
Date of revision:
Handle: RePEc:run:wpaper:2005-001

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Related research
Keywords: Firm size adjustment dynamics artificial neural networks Cournot games

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Find related papers by JEL classification:
C63 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computational Techniques
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior
D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jason Barr & Francesco Saraceno, 2004. "Organization, Learning and Cooperation," Computational Economics 0402001, EconWPA. [Downloadable!]
  2. Martin Currie & Stan Metcalfe, 2001. "Firm routines, customer switching and market selection under duopoly," Journal of Evolutionary Economics, Springer, vol. 11(4), pages 433-456. [Downloadable!] (restricted)
  3. DeCanio, Stephen J. & Watkins, William E., 1998. "Information processing and organizational structure," Journal of Economic Behavior & Organization, Elsevier, vol. 36(3), pages 275-294, August. [Downloadable!] (restricted)
  4. Barr, Jason & Saraceno, Francesco, 2005. "Cournot competition, organization and learning," Journal of Economic Dynamics and Control, Elsevier, vol. 29(1-2), pages 277-295, January. [Downloadable!] (restricted)
  5. Myong-Hun Chang & Joseph E Harrington Jr, 2004. "Agent-Based Models of Organizations," Economics Working Paper Archive 515, The Johns Hopkins University,Department of Economics. [Downloadable!]
    Other versions:
  6. Radner, Roy, 1993. "The Organization of Decentralized Information Processing," Econometrica, Econometric Society, vol. 61(5), pages 1109-46, September. [Downloadable!] (restricted)
  7. Barr, Jason & Saraceno, Francesco, 2002. "A computational theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 345-361, November. [Downloadable!] (restricted)
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