Competitive behavior in market games: evidence and theory

DOI10.1016/J.JET.2011.05.013MaRDI QIDQ634514zbMATH OpenOpenAlexFDO

Authors John Duffy, Alexander Matros, Ted Temzelides

Publication date 16 August 2011

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://eprints.lancs.ac.uk/id/eprint/60737/1/john_dmt090306.pdf

zbMATH Keywords

competitionexperimental economicsevolutionary stabilitymarket gamesmarket powerfull Nash equilibrium

Mathematics Subject Classification ID

Applications of game theory (91A80) Auctions, bargaining, bidding and selling, and other market models (91B26) Noncooperative games (91A10) Microeconomic theory (price theory and economic markets) (91B24)

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Cites work

• scientific article; zbMATH DE number 3866998 (Why is no real title available?)
• scientific article; zbMATH DE number 903638 (Why is no real title available?)
• scientific article; zbMATH DE number 1424768 (Why is no real title available?)
• A closed economic system with production and exchange modelled as a game of strategy
• A theory of money and financial institutions. 28. The noncooperative equilibria of a closed trading economy with market supply and bidding strategles
• Approximate Efficiency of Non-Walrasian Nash Equilibria
• Bargaining and Competition Part I: Characterization
• Inefficiency of Nash Equilibria
• Liquid markets and competition
• Retrading in market games.
• The Evolution of Walrasian Behavior
• The market game: Existence and structure of equilibrium

Cited in

(14)

• Nash equilibrium in evolutionary competitive models of firms and workers under external regulation
• Pure strategy equilibria in symmetric two-player zero-sum games
• scientific article; zbMATH DE number 592673 (Why is no real title available?)
• Decentralized pricing and the equivalence between Nash and Walrasian equilibrium
• An experiment on the efficiency of bilateral exchange under incomplete markets
• The management game SINTO-Market -- report on some recent experiments
• Competition and personality in a restaurant entry game
• The competitive market paradox
• The theory of contests: a survey
• Price competition between teams
• Competitive outcomes and the inner core of NTU market games
• Self-reinforcing market dominance
• An introduction to perfect and imperfect competition via bilateral oligopoly
• Learning competitive equilibrium in laboratory exchange economies

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• Z-Tree

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