Multiple behavioral rules in Cournot oligopolies

Arbeitspapier

We study intra-individual behavioral heterogeneity in an experimental Cournot oligopoly. Previous empirical results in this setting have demonstrated convergence to competitive outcomes, in agreement with theoretical predictions assuming that players imitate successful opponents. We postulate that players sometimes rely on imitation of successful behavior, and sometimes best reply to the actions of others. Testable predictions are obtained from a model allowing for multiple behavioral rules which accounts for differences in the cognitive nature of the underlying decision processes. Those include non-trivial response time interactions depending on whether the rules share a common prescription (alignment) or not (conflict), a classification which is ex ante observable. The results confirm the hypotheses and support the presence of multiple behavioral rules at the individual level.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 331

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Noncooperative Games ; Design of Experiments: Laboratory, Individual ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
• Thema: Cournot oligopoly ; imitation ; best reply ; multiple behavioral rules

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Alós-Ferrer, Carlos ; Ritschel, Alexander
• Ereignis: Veröffentlichung
• (wer): University of Zurich, Department of Economics
• (wo): Zurich
• (wann): 2020

Weitere Informationen

• DOI: doi:10.5167/uzh-172561
• Handle: http://hdl.handle.net/10419/222355
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ