Multiple behavioral rules in Cournot oligopolies
Carlos Alós-Ferrer () and
No 331, ECON - Working Papers from Department of Economics - University of Zurich
We study intra-individual behavioral heterogeneity in an experimental Cournot oligopoly. Previous empirical results in this setting have demonstrated convergence to competitive outcomes, in agreement with theoretical predictions assuming that players imitate successful opponents. We postulate that players sometimes rely on imitation of successful behavior, and sometimes best reply to the actions of others. Testable predictions are obtained from a model allowing for multiple behavioral rules which accounts for differences in the cognitive nature of the underlying decision processes. Those include non-trivial response time interactions depending on whether the rules share a common prescription (alignment) or not (conflict), a classification which is ex ante observable. The results confirm the hypotheses and support the presence of multiple behavioral rules at the individual level.
Keywords: Cournot oligopoly; imitation; best reply; multiple behavioral rules (search for similar items in EconPapers)
JEL-codes: C72 C91 D91 (search for similar items in EconPapers)
Date: 2019-07, Revised 2020-07
New Economics Papers: this item is included in nep-evo, nep-exp and nep-gth
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:zur:econwp:331
Access Statistics for this paper
More papers in ECON - Working Papers from Department of Economics - University of Zurich Contact information at EDIRC.
Bibliographic data for series maintained by Marita Kieser ().