Sluggish consumers: An evolutionary solution to the Bertrand paradox.
DOI10.1006/GAME.2001.0902zbMATH Open1039.91052OpenAlexW2020102904MaRDI QIDQ1864809FDOQ1864809
Authors: Burkhard Hehenkamp 
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
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Bertrand equilibriummonopoly pricingmarginal cost pricinghomogeneous commodityimitation and experimentationsluggish consumers
Auctions, bargaining, bidding and selling, and other market models (91B26) Consumer behavior, demand theory (91B42)
Cites Work
- Title not available (Why is that?)
- Competition when Consumers have Switching Costs: An Overview with Applications to Industrial Organization, Macroeconomics, and International Trade
- An evolutionary model of Bertrand oligopoly
- Learning, Mutation, and Long Run Equilibria in Games
- The Evolution of Conventions
- Title not available (Why is that?)
- Title not available (Why is that?)
- Informative Price Advertising in a Sequential Search Model
Cited In (8)
- Market share dynamics in a duopoly model with word-of-mouth communication
- Evolutionary consumers imply monopolies exit
- An evolutionary model of Bertrand oligopoly
- THE DISCRETIZATION OF CONTINUUM STRATEGY SPACES
- Evolution of a collusive price in a networked market
- Aspiration adaptation in the ultimatum minigame.
- CONSUMER MISTAKES IN BERTRAND GAMES
- The evolution of price competition game on complex networks
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