Cournot competition, imitation, and information networks

Fei Shi and Boyu Zhang

Economics Letters, 2019, vol. 176, issue C, 83-85

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.

Keywords: Trading institutions; Cournot competition; Imitation; Information networks (search for similar items in EconPapers)
JEL-codes: C72 D83 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:176:y:2019:i:c:p:83-85

DOI: 10.1016/j.econlet.2019.01.009

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