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Download Experimental Duopoly Markets With Demand Inertia: Game-Playing Experiments and the Strategy Method (Lecture Notes in Economics Mathematical Systems) fb2, epub

by Claudia Keser

Download Experimental Duopoly Markets With Demand Inertia: Game-Playing Experiments and the Strategy Method (Lecture Notes in Economics  Mathematical Systems) fb2, epub

ISBN: 0387560904
Author: Claudia Keser
Language: English
Publisher: Springer Verlag (December 1, 1992)
Category: Accounting
Subcategory: Money
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1. 1 Motivation The experiments examine a multistage duopoly game where prices in each period are the only decision variables.

1. Sales depend on current prices and also on past sales (demand inertia). Applying the game-theoretic concept of subgame perfect equilibrium, the game is solved by backward induction.

Series: Lecture Notes in Economics and Mathematical Systems 39. The great advantage of the strategy method in comparison with the game-playing method of experimentation is that it makes the strategies of the subjects directly visible.

Series: Lecture Notes in Economics and Mathematical Systems 391. File: PDF, . 7 MB. पुस्तक ऑनलाइन पढ़ें. In game-playing experiments we can observe actual plays but the subjects' strategies remain hidden. Strategies convey more information about the structure of subjects' decision making in the considered game situation. A very important criticism is that the strategy method might not fully reveal the structure of actual behavior.

by Claudia Keser · data of the paperback book Experimental Duopoly Markets. ISBN: 978-0-387-56090-8. ISBN-10: 0-387-56090-4. Springer Verlag · 1992.

Measuring Duopoly Power in the British Electricity Spot Market The strategy is firmly grounded on one-day-ahead spot price predictions using Random Forests.

Measuring Duopoly Power in the British Electricity Spot Market. The pricing of electricity is determined by means of a clearinghouse double auction with discriminatory midpoint pricing. The strategy is firmly grounded on one-day-ahead spot price predictions using Random Forests.

Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. By convention, these applied methods are beyond simple geometry, such as differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, and other computational methods. Proponents of this approach claim that it allows the formulation of theoretical relationships with rigor, generality, and simplicity.

This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes

This book describes a laboratory experiment designed to test the causes and properties of bubbles in financial markets and explores the question whether it is possible to design markets which avoid such bubbles and crashes. In the experiment, subjects were given the opportunity to trade in a stock market modeled after the seminal work of Smith et al. (1988).

Duopoly Markets with Demand Inertia : Game-Playing Experimentals and the Strategy Method.

Experimental Duopoly Markets with Demand Inertia : Game-Playing Experimentals and the Strategy Method. Two methods of experimentation are studied: game-playing experiments where subjects interact spontaneously via computer terminals, and computer tournaments between strategies designed by subjects. The principal aim of this study is the understanding of boundedly rational decision making in the dynamic duopoly situation.

Notes in Economics & Mathematical Systems) by Claudia Keser. These strategies are played against each other in computer simulations.

Experimental Duopoly Markets With Demand Inertia: Game-Playing Experiments and the Strategy Method (Lecture Notes in Economics & Mathematical Systems) by Claudia Keser. Spontaneous behavior is observed in game-playing experiments where students from the University of Bonn have played the dynamic duopoly game by direct interaction via computer terminals. Strategically planned behavior is revealed in strategies developed by forty-five academic economists from 12 countries.

Lecture 10 Revision of the various forms of markets; revisiting the duopoly . On a number of topics there will be lecture notes.

Lecture 10 Revision of the various forms of markets; revisiting the duopoly probem; the case of symmetric and asymmetric information; the effect of incomplete information on the plans of the firms; inefficiency of the Cournot-Nash solution.

Mathematical Methods and. has been added to your Cart

Mathematical Methods and. has been added to your Cart. These concepts and the computer now play a major role in game theory, and a modern book would reflect these developments more than this one. That being said, one still might peruse this book to get an idea of the history of game theory and possibly to appreciate the conceptual situation that existed at the time of publication. Frequently older books in mathematics stress more of the underlying intuition behind a subject than modern ones.

This experimental study examines both spontaneous and strategically planned behavior of boundedly rational subjects in a dynamic duopoly situation. Spontaneous behavior is observed in game-playing experiments where students from the University of Bonn have played the dynamic duopoly game by direct interaction via computer terminals. Strategically planned behavior is revealed in strategies developed by forty-five academic economists from 12 countries. These strategies are played against each other in computer simulations. The most striking observation in both types of examination is the coexistence of cooperation and competition. Short-run monopoly pricing emerges as the prevailing mode of cooperation in the planned strategies. However, the most successful strategies turn out to be moderately competitive. An evolutionary tournament suggests a long-run coexistence of competition and cooperation.

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