Stability of the Cournot Process - Experimental Evidence [Dataset]

DOI

We report results of experiments designed to test the predictions of the best-reply process. In a Cournot oligopoly with four firms, the best-reply process should theoretically explode if demand and cost functions are linear. We find, however, no experimental evidence of such instability. Moreover, we find no differences between a market which theoretically should not converge to Nash equilibrium and one which should converge because of inertia. We investigate the power of several learning dynamics to explain this unpredicted stability.

Identifier
DOI https://doi.org/10.11588/data/10014
Related Identifier https://doi.org/10.1007/s001820200110
Metadata Access https://heidata.uni-heidelberg.de/oai?verb=GetRecord&metadataPrefix=oai_datacite&identifier=doi:10.11588/data/10014
Provenance
Creator Huck, Steffen; Normann, Hans-Theo; Oechssler, Jörg
Publisher heiDATA
Contributor Jörg Oechssler; Huck, Steffen; Normann, Hans-Theo; Oechssler, Jörg; HeiDATA: Heidelberg Research Data Repository
Publication Year 2014
Rights info:eu-repo/semantics/closedAccess
OpenAccess false
Contact Jörg Oechssler (Alfred-Weber-Institute of Economics)
Representation
Resource Type Dataset
Format application/octet-stream; application/x-gzip
Size 29112; 172486
Version 1.1
Discipline Agriculture, Forestry, Horticulture, Aquaculture; Agriculture, Forestry, Horticulture, Aquaculture and Veterinary Medicine; Life Sciences; Social Sciences; Social and Behavioural Sciences; Soil Sciences
Spatial Coverage Heidelberg, Germany