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

  • 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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    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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    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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    1. Josephson, Jens & Matros, Alexander, 2000. "Stochastic Imitation in Finite Games," SSE/EFI Working Paper Series in Economics and Finance 363, Stockholm School of Economics, revised 26 Nov 2002.
    2. 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.
    3. 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.
    4. Cheng-Zhong Qin & Charles Stuart, 1997. "Bertrand versus Cournot revisited," Economic Theory, Springer, vol. 10(3), pages 497-507.
    5. Ana B. Ania & Carlos Alós-Ferrer & Klaus R. Schenk-Hoppé, 1998. "- An Evolutionary Model Of Bertrand Oligopoly," Working Papers. Serie AD 1998-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    6. Burkhard Schipper, 2002. "Submodularity and the Evolution of Walrasian Behavior," Bonn Econ Discussion Papers bgse4_2003, University of Bonn, Germany.
    7. Fernando Vega-Redondo, 1997. "The Evolution of Walrasian Behavior," Econometrica, Econometric Society, vol. 65(2), pages 375-384, March.
    8. Xavier Vives, 2001. "Oligopoly Pricing: Old Ideas and New Tools," MIT Press Books, The MIT Press, edition 1, volume 1, number 026272040x, June.
    9. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    10. 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.
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