LEARNING TO FACE STOCHASTIC DEMAND

Sjur Didrik Flåm () and Maria Sandsmark ()
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Sjur Didrik Flåm: University of Bergen and Norwegian School of Economics and Business Administration, Fossw. 6, 5007 Bergen, Norway
Maria Sandsmark: ECON Centre for Economic Analysis, P.B. 8034, 4068 Stavanger, Norway

International Game Theory Review (IGTR), 2000, vol. 02, issue 04, 259-271

Abstract: We consider repeated interaction among several producers of a homogeneous, divisible good, traded at a common market. Demand is uncertain, and its law is unknown. We explore an adaptive scheme leading such producers, over time, to face correct demand data. Extensions include non-cooperative games in which strategic interaction is felt via exactly two real parameters.

JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1142/S0219198900000238

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