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It is shown that the equilibrium notion of an evolutionary stable strategy (ESS) does have predictive power for standard models of Bertrand competition. This is in contrast to a recent claim by Qin and Stuart (1997). The claim is based on the observation that the solution concept ESS behaves...
Persistent link: https://www.econbiz.de/10014184323
experiments in contrast to analog experimental results on price-competition in the literature. …
Persistent link: https://www.econbiz.de/10010263110
assumption is robust in experiments, which is in contrast to experimental results on price competition …
Persistent link: https://www.econbiz.de/10014029080
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10014061547
An innovative firm chooses strategically whether to patent its process innovation or rely on secrecy. By doing so, the firm manages its rival’s beliefs about the size of the innovation, and affects the incentives in the product market. Different measures of competitive pressure in the product...
Persistent link: https://www.econbiz.de/10014046635
competitive, the collusive, and the Cournot-Nash outcome, respectively. In the experiment we employ three information treatments …We examine the force of three types of behavioral dynamics in quantity-setting triopoly experiments:mimicking the …
Persistent link: https://www.econbiz.de/10010371113
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10010333843
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10005407609
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10004968388
and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …We use an experiment to explore how subjects learn to play against computers which are programmed to follow one of a … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those …
Persistent link: https://www.econbiz.de/10005785934