Imitation in Cournot oligopolies with multiple markets
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| 024 | 7 | 0 | |a 10.1007/s00199-015-0878-7 |2 doi |
| 035 | |a (NATIONALLICENCE)springer-10.1007/s00199-015-0878-7 | ||
| 100 | 1 | |a Hedlund |D Jonas |u Department of Economics, University of Heidelberg, Bergheimer Str. 58, 69115, Heidelberg, Germany |4 aut | |
| 245 | 1 | 0 | |a Imitation in Cournot oligopolies with multiple markets |h [Elektronische Daten] |c [Jonas Hedlund] |
| 520 | 3 | |a This paper analyzes imitation dynamics in Cournot oligopolies when firms imitate both rivaling firms and firms in other markets. The resulting tension between relative and absolute performance leads to a unique prediction strictly between the Nash equilibrium and perfectly competitive outcomes, which is fully characterized by a simple formula. The outcome becomes less competitive as the number of markets increases, i.e., as firms receive more information about firms in other markets. A link with relative payoff maximization is provided. An extension of the benchmark model reveals that sophisticated firms imitating across asymmetric markets converge to a related but somewhat less competitive outcome. | |
| 540 | |a Springer-Verlag Berlin Heidelberg, 2015 | ||
| 690 | 7 | |a Evolution |2 nationallicence | |
| 690 | 7 | |a Imitation |2 nationallicence | |
| 690 | 7 | |a Oligopoly |2 nationallicence | |
| 690 | 7 | |a Stochastic stability |2 nationallicence | |
| 773 | 0 | |t Economic Theory |d Springer Berlin Heidelberg |g 60/3(2015-11-01), 567-587 |x 0938-2259 |q 60:3<567 |1 2015 |2 60 |o 199 | |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s00199-015-0878-7 |q text/html |z Onlinezugriff via DOI |
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 900 | 7 | |a Metadata rights reserved |b Springer special CC-BY-NC licence |2 nationallicence | |
| 908 | |D 1 |a research-article |2 jats | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-springer | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.1007/s00199-015-0878-7 |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 100 |E 1- |a Hedlund |D Jonas |u Department of Economics, University of Heidelberg, Bergheimer Str. 58, 69115, Heidelberg, Germany |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Economic Theory |d Springer Berlin Heidelberg |g 60/3(2015-11-01), 567-587 |x 0938-2259 |q 60:3<567 |1 2015 |2 60 |o 199 | ||