A Note on Agent Based Imperfect Competition.

The model we discuss in this note is a re-examination of the classical Bertrand model of imperfect competition. the main difference is that consumers are allowed to have some strategic behavior when deciding from which one of the two sellers to buy. We will approach the resolution of the situation sketched above using two related but different tools. The two of them consider a probabilisstic learning (or evolutionary) mechanism, and in the two of them consumers' behavior can affect the competition between the sellers.