Sluggish consumers: An evolutionary solution to the Bertrand paradox.
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Publication:1864809
DOI10.1006/game.2001.0902zbMath1039.91052OpenAlexW2020102904MaRDI QIDQ1864809
Publication date: 23 March 2003
Published in: Games and Economic Behavior (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1006/game.2001.0902
Bertrand equilibriummonopoly pricingmarginal cost pricinghomogeneous commodityimitation and experimentationsluggish consumers
Auctions, bargaining, bidding and selling, and other market models (91B26) Consumer behavior, demand theory (91B42)
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Cites Work
- An evolutionary model of Bertrand oligopoly
- Competition when Consumers have Switching Costs: An Overview with Applications to Industrial Organization, Macroeconomics, and International Trade
- Informative Price Advertising in a Sequential Search Model
- Learning, Mutation, and Long Run Equilibria in Games
- The Evolution of Conventions
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