An experimental study of adaptive behavior in an oligopolistic market game

Rosemarie Nagel and Nicolaas Vriend

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

Abstract: We consider an oligopolistic market game, in which the players are competing firm in the same market of a homogeneous consumption good. The consumer side is represented by a fixed demand function. The firms decide how much to produce of a perishable consumption good, and they decide upon a number of information signals to be sent into the population in order to attract customers. Due to the minimal information provided, the players do not have a well--specified model of their environment. Our main objective is to characterize the adaptive behavior of the players in such a situation.

Keywords: Market game; oligopoly; adaptive behavior; learning; Leex (search for similar items in EconPapers)
JEL-codes: C7 C9 D8 (search for similar items in EconPapers)
Date: 1997-07
New Economics Papers: this item is included in nep-cmp, nep-exp, nep-gth and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: An experimental study of adaptive behavior in an oligopolistic market game (1999)
Working Paper: An Experimental Study of Adaptive Behavior in an Oligopolistic Market Game (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:upf:upfgen:230

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