English, Article, Journal or magazine article edition: A non-standard approach to a market with boundedly rational consumers and strategic firms. Part I: A microfoundation for the evolution of sales Christina Matzke; Benedikt Wirth

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Bookmark: http://trove.nla.gov.au/version/52665
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A non-standard approach to a market with boundedly rational consumers and strategic firms. Part I: A microfoundation for the evolution of sales
Author
  • Christina Matzke
  • Benedikt Wirth
Physical Description
  • preprint
Notes
  • In our model, individual consumers follow simple behavioral decision rules based on imitation and habit as suggested in consumer research, social learning, and related fields. Demand can be viewed as the outcome of a population game whose revision protocol is determined by the consumers' behavioral rules. The consumer dynamics are then analyzed in order to explore the demand side and first implications for a strategic supply side.
  • bounded rationality, social learning, population game, mean dynamic
  • RePEc:bon:bonedp:bgse10_2008
Language
  • English
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