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We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round à la Vega-Redondo (1997). Optimizers play a myopic best response to the opponents' previous output....
Persistent link: https://www.econbiz.de/10010366551
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In … our theoretical analysis we find that the different predictions of previous imitation models are due to different … laboratory experiment we test the different theories by systematically varying information conditions. We find significant …
Persistent link: https://www.econbiz.de/10010366552
We introduce a generalized theoretical approach to study imitation models and subject themodels to rigorous … experimental testing. In our theoretical analysis we find that the differentpredictions of previous imitation models are due to …. In alaboratory experiment we test the different theories by systematically varying informationconditions. We find that …
Persistent link: https://www.econbiz.de/10011509505
We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In … our theoretical analysis we find that the different predictions of previous imitation models are due to different … laboratory experiment we test the different theories by systematically varying information conditions. We find significant …
Persistent link: https://www.econbiz.de/10003023525
assumption is robust in experiments, which is in contrast to experimental results on price competition …
Persistent link: https://www.econbiz.de/10014029080
We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous … experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to …. In a laboratory experiment we test the different theories by systematically varying information conditions. We find that …
Persistent link: https://www.econbiz.de/10010270576
We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous … experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to …. In a laboratory experiment we test the different theories by systematically varying information conditions. We find that …
Persistent link: https://www.econbiz.de/10013319694
experiments in contrast to analog experimental results on price-competition in the literature. …
Persistent link: https://www.econbiz.de/10010263110
A well-known result by Vega-Redondo implies that in symmetric Cournot oligopoly, imitation leads to the Walrasian … actions will be played some fraction of the time in the long run. We then conduct experiments to check this fragility. We …
Persistent link: https://www.econbiz.de/10003593007
Internet experiments are a new and convenient way for reaching a large subject pool. Yet, providing incentives to … incentive device. Performance based financial incentives seem to be required also in internet experiments. …
Persistent link: https://www.econbiz.de/10008620358