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Reflexive Dynamics in the Cournot Oligopoly under Uncertainty

A model of dynamic behavior in the Cournot market in the class of linear demand and cost functions of agents is presented. Observing the current state of the market and considering current economic restrictions, agents refine their outputs in game-to-game dynamics and take steps towards the current...

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Bibliographic Details
Published in:Automation and remote control 2020-02, Vol.81 (2), p.287-301
Main Authors: Algazin, G. I., Algazina, Yu. G.
Format: Article
Language:English
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Summary:A model of dynamic behavior in the Cournot market in the class of linear demand and cost functions of agents is presented. Observing the current state of the market and considering current economic restrictions, agents refine their outputs in game-to-game dynamics and take steps towards the current position of their goal. Sufficient conditions on the step sizes chosen by agents independently of each other under which the dynamics converge to the static Cournot-Nash equilibrium are established.
ISSN:0005-1179
1608-3032
DOI:10.1134/S0005117920020083