English, Article, Journal or magazine article edition: Trial & Error to Collusion - The Discrete Case Steffen Huck; Hans-Theo Normann; Jörg Oechssler

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Bookmark: http://trove.nla.gov.au/version/52769
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Trial &​ Error to Collusion - The Discrete Case
Author
  • Steffen Huck
  • Hans-Theo Normann
  • Jörg Oechssler
Physical Description
  • preprint
Notes
  • In this note we study a very simple trial &​ error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of any coordination or punishing device this process converges to a collusive outcome.
  • learning, Cournot oligopoly
  • RePEc:bon:bonedp:bgse6_2000
Language
  • English
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