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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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Published in: | Automation and remote control 2020-02, Vol.81 (2), p.287-301 |
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Main Authors: | , |
Format: | Article |
Language: | English |
Subjects: | |
Citations: | Items that this one cites Items that cite this one |
Online Access: | Get full text |
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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. |
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ISSN: | 0005-1179 1608-3032 |
DOI: | 10.1134/S0005117920020083 |