We consider the competition among quantity setting players in a linear evolutionary environment. To set their outputs, players adopt, alternatively, the best response rule having perfect foresight or an imitative rule. Players are allowed to change their behavior through an evolutionary...

Starting from a Muthian cobweb model, we extend the profit-based evolutionary setting in Hommes and Wagener (2010) populated by pessimistic, optimistic and unbiased fundamentalists, by assuming that agents face heterogeneous information costs, inversely proportional to the entity of their bias....