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Imitation of Succesful Behavior in Cournot Markets

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Author Info
Antoni Bosch-Domènech ()
Nicolaas J. Vriend

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Abstract

In an experimental standard Cournot Oligopoly we test the importance of models of behavior characterized by imitation of succesful behavior. We find that the players appear to the rather reluctant to imitate.

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File URL: http://www.econ.upf.edu/docs/papers/downloads/269.pdf
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Publisher Info
Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 269.

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Date of creation: Feb 1998
Date of revision: May 1999
Handle: RePEc:upf:upfgen:269

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Web page: http://www.econ.upf.edu/

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Related research
Keywords: Oligopoly; cournot; bounded rationality; spite effect; Leex;

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Find related papers by JEL classification:
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
C9 - Mathematical and Quantitative Methods - - Design of Experiments
D8 - Microeconomics - - Information, Knowledge, and Uncertainty

References listed on IDEAS
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  1. Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1998. "Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 151-70, Summer. [Downloadable!] (restricted)
  2. Theo Offerman & Jan Potters & Joep Sonnemans, 1997. "Imitation and Belief Learning in an Oligopoly Experiment," Tinbergen Institute Discussion Papers 97-116/1, Tinbergen Institute. [Downloadable!]
    Other versions:
  3. David K. Levine, 1998. "Modeling Altruism and Spitefulness in Experiment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(3), pages 593-622, July. [Downloadable!] (restricted)
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  4. Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August. [Downloadable!] (restricted)
  5. Eichberger, J. & Kelsey, D., 1999. "Uncertainty and Strategic Interaction in Economics," Discussion Papers 99-26, Department of Economics, University of Birmingham.
  6. Huw Dixon & Steven Wallis & Scott Moss, . "Axelrod Meets Cournot: Oligopoly and the Evolutionary Metaphor Part 1," Discussion Papers 95/8, Department of Economics, University of York.
  7. Fernando Vega-Redondo, 1997. "The Evolution of Walrasian Behavior," Econometrica, Econometric Society, vol. 65(2), pages 375-384, March.
  8. Palomino, F., 1995. "On the Survival of Strictly Dominated Strategies in Large Populations," UFAE and IAE Working Papers 308.95, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  9. Huck, Steffen & Normann, Hans-Theo & Oechssler, Jorg, 1999. "Learning in Cournot Oligopoly--An Experiment," Economic Journal, Royal Economic Society, vol. 109(454), pages C80-95, March. [Downloadable!] (restricted)
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  10. Crawford, Vincent, 1998. "A Survey of Experiments on Communication via Cheap Talk," Journal of Economic Theory, Elsevier, vol. 78(2), pages 286-298, February. [Downloadable!] (restricted)
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Cited by:
(explanations, 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. Klaus Abbink & Jordi Brandts, 2002. "24," UFAE and IAE Working Papers 523.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
  2. Nick Feltovich & John Duffy, 2004. "Words, Deeds and Lies: Strategic Behavior in Games with Multiple Signals," Working Papers 2004-01, Department of Economics, University of Houston. [Downloadable!]
    Other versions:
  3. Nikolaos Georgantzis & Aurora García Gallego, 2001. "Adaptive Behavior By Single-Product And Multiproduct Price Setting Firms In Experimental Markets," Working Papers. Serie AD 2001-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
  4. Andreas Nicklisch & Leon Zucchini, . "Dynamic Efficiency of Emission Trading Markets: An Experimental Study," Papers on Strategic Interaction 2005-07, Max Planck Institute of Economics, Strategic Interaction Group. [Downloadable!]
  5. Carlo Altavilla & Luigi Luini & Patrizia Sbriglia, 2005. "Social Learning in Market Games," Labsi Experimental Economics Laboratory University of Siena 003, University of Siena. [Downloadable!]
    Other versions:
  6. Jordi Brandts & David J. Cooper, 2004. "Observability and Overcoming Coordination Failure in Organizations," UFAE and IAE Working Papers 630.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
  7. Jordi Brandts & David Cooper, 2006. "Observability and overcoming coordination failure in organizations: An experimental study," Experimental Economics, Springer, vol. 9(4), pages 407-423, December. [Downloadable!] (restricted)
  8. Tilman Slembeck, 2000. "Learning in Economics: Where Do We Stand?," Microeconomics 0004007, EconWPA. [Downloadable!]
  9. Jordi Brandts & Klaus Abbink, 2004. "24," Levine's Bibliography 122247000000000073, UCLA Department of Economics. [Downloadable!]
  10. Robert S. Gazzale, 2009. "Learning to Play Nash from the Best," Department of Economics Working Papers 2009-03, Department of Economics, Williams College. [Downloadable!]
  11. Maria Bigoni, 2008. "Information and Learning in Oligopoly: an Experiment," "Marco Fanno" Working Papers 0072, Dipartimento di Scienze Economiche "Marco Fanno". [Downloadable!]
  12. Nikos Nikiforakis, 2008. "Feedback; Punishment and Cooperation in Public Good Experiments," Department of Economics - Working Papers Series 1036, The University of Melbourne. [Downloadable!]
  13. Steffen Huck & Hans-Theo Normann & Jörg Oechssler, 2001. "Two are Few and Four are Many: Number Effects in Experimental Oligopolies," Bonn Econ Discussion Papers bgse12_2001, University of Bonn, Germany. [Downloadable!]
    Other versions:
  14. Reinhard Selten & Jose Apesteguia, 2002. "Experimentally Observed Imitation and Cooperation in Price Competition on the Circle," Bonn Econ Discussion Papers bgse19_2002, University of Bonn, Germany. [Downloadable!]
    Other versions:
  15. Kirchkamp, Oliver & Nagel, Rosemarie, 2003. "No imitation - on local and group interaction, learning and reciprocity in prisoners\," Sonderforschungsbereich 504 Publications 03-04, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim. [Downloadable!]
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