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微观经济学workshop: :Evolutionary Consumers under Oligopoly
发布日期：2018-11-22 02:39 来源：大陆成人直播-成人直播中文
微观经济学workshop: :Evolutionary Consumers under Oligopoly
时间：2018年11月22日（周四）10:30-12:00
地点：万众楼小教室
主讲人：龚炯
题目：:Evolutionary Consumers under Oligopoly
摘要:
We develop a model of replicator dynamics to study evolutionary consumers under oligopoly. We show that the steady-state equilibrium preserves the properties of a static Cournot model in that the market size is increasing in the number of competing firms and their patience level, but decreasing in their costs. The marketsize also increases with the speed at which the demand side adjusts. Each firm’smarket share is determined by the competitiveness of its cost structure and a decreasing function of the number of competitors. Therefore we validate the robustness of Cournot rationality over the long run to individual short-run behaviors of irrationality. We also show that market exit, as demonstrated in a monopoly setting by Hummel and McAfee (2018), is a zero probability event due to competition.
Key Words: replica, dynamics, evolution, oligopoly, Cournot
主讲人信息:
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大陆成人直播
-
微观经济学workshop: :Evolutionary Consumers under Oligopoly
发布日期：2018-11-22 02:39 来源：大陆成人直播-成人直播中文
微观经济学workshop: :Evolutionary Consumers under Oligopoly
时间：2018年11月22日（周四）10:30-12:00
地点：万众楼小教室
主讲人：龚炯
题目：:Evolutionary Consumers under Oligopoly
摘要:
We develop a model of replicator dynamics to study evolutionary consumers under oligopoly. We show that the steady-state equilibrium preserves the properties of a static Cournot model in that the market size is increasing in the number of competing firms and their patience level, but decreasing in their costs. The marketsize also increases with the speed at which the demand side adjusts. Each firm’smarket share is determined by the competitiveness of its cost structure and a decreasing function of the number of competitors. Therefore we validate the robustness of Cournot rationality over the long run to individual short-run behaviors of irrationality. We also show that market exit, as demonstrated in a monopoly setting by Hummel and McAfee (2018), is a zero probability event due to competition.
Key Words: replica, dynamics, evolution, oligopoly, Cournot
主讲人信息:
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