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Duopoly Strategies Programmed by Experienced Players

  • Reinhard Selten
  • Michael Mitzkewitz
  • Gerald R. Uhlich

This paper reports a strategy study on a twenty-period supergame of a numerically specified asymmetric Cournot duopoly. The subjects were twenty-three participants of a student seminar. Three rounds of game playing were followed by three rounds of strategy programming with computer tournaments. The final strategies show a typical approach to the strategic problem: subjects first select an 'ideal point,' a cooperative goal based on fairness criteria, and then design a 'measure for measure policy' that reciprocates movements to the ideal point or away from it; no quantitative expectations are formed and nothing is optimized. Typicalness is positively correlated with success.

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Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 65 (1997)
Issue (Month): 3 (May)
Pages: 517-556

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Handle: RePEc:ecm:emetrp:v:65:y:1997:i:3:p:517-556
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