In a duopoly market, aspiration levels express how much sellers want to earn given their expectations about the other … to adjust aspiration levels if they cannot be satisfied. -- satisficing behavior ; duopoly ; profit aspiration ; theory …

framework of evolutionary competition between rational, myopic best-response and imitation heuristics with differential … heuristic (Cournot best-response) and the stable one (imitation) and on the intensity of the evolutionary pressure. When this … cost differential is positive (i.e., imitation is relatively cheaper vis a vis Cournot), most firms use this heuristic and …

A learning rule is uncoupled if a player does not condition his strategy on the opponent's payoffs. It is radically …, radically uncoupled learning rules whose period-by-period behavior comes arbitrarily close to Nash equilibrium behavior in any …

learning processes exhibited by players. …

are rare. Thus, even in a world of simple learning agents, coordination behavior can take on some surprising forms. …

We study how subjects in an experiment use different forms of public information about their opponents' past behavior …