Submodularity and the Evolution of Walrasian Behavior

Vega-Redondo (1997) showed that imitation leads to the Walrasian outcome in Cournot Oligopoly. We generalize his result to aggregative quasi-submodular games. Examples are the Cournot Oligopoly, Bertrand games with differentiated complementary products, Common- Pool Resource games, Rent-Seeking games and generalized Nash-Demand games.

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Year of publication:	2002-12
Authors:	Schipper, Burkhard
Institutions:	University of Bonn, Germany
Subject:	imitation \| price-taking behavior \| lattice theory \| stochastic stability

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Extent:	application/pdf
Series:	Bonn Econ Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	1 pages long
Classification:	C72 - Noncooperative Games ; D21 - Firm Behavior ; D43 - Oligopoly and Other Forms of Market Imperfection ; L13 - Oligopoly and Other Imperfect Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004968379