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Cournot competition, imitation, and information networks

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  • Shi, Fei
  • Zhang, Boyu

Abstract

We develop a stochastic learning model of Cournot competition on arbitrary networks, where firms can only observe local information and imitate the locally best. The Walrasian equilibrium is uniquely selected for any connected information network.

Suggested Citation

  • Shi, Fei & Zhang, Boyu, 2019. "Cournot competition, imitation, and information networks," Economics Letters, Elsevier, vol. 176(C), pages 83-85.
    • Handle: RePEc:eee:ecolet:v:176:y:2019:i:c:p:83-85
    DOI: 10.1016/j.econlet.2019.01.009
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    References listed on IDEAS

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    1. Apesteguia, Jose & Huck, Steffen & Oechssler, Jörg & Weidenholzer, Simon, 2010. "Imitation and the evolution of Walrasian behavior: Theoretically fragile but behaviorally robust," Journal of Economic Theory, Elsevier, vol. 145(5), pages 1603-1617, September.
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    Cited by:

    1. Qiang Wang & Linjie Liu & Xiaojie Chen, 2020. "Evolutionary Dynamics of Cooperation in the Public Goods Game with Individual Disguise and Peer Punishment," Dynamic Games and Applications, Springer, vol. 10(3), pages 764-782, September.

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    More about this item

    Keywords

    Trading institutions; Cournot competition; Imitation; Information networks;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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