Evolved perception and behaviour in oligopolies
Article Abstract:
An analysis of oligopolist behavior with regards perception partitioning of others' actions reveals that the simple model of partitioning determining whether or not prices changed is the most informative fit. The study implies that boundedly rational historical brand managers used the model of three-way interaction in their response decisions but consciousness regarding decision-making cannot be determined.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1998
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E-equilibria and adaptive expectations: output and inflation in the LBS model
Article Abstract:
Foreign exchange dealers do not adopt a rational expectation assumption on most models due to its complexity and presupposition that agents possess too much information. Examining the dynamic macromodel of the London Business School, the dynamic paths for output and inflation demonstrated substantial differences. If a stable region exists, end values and dynamics also have significant differences.
Publication Name: Journal of Economic Dynamics & Control
Subject: Economics
ISSN: 0165-1889
Year: 1997
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