Competitive behavior in market games: evidence and theory

DOI10.1016/j.jet.2011.05.013zbMath1247.91014OpenAlexW2118582316MaRDI QIDQ634514

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

competitionevolutionary stabilitymarket powerexperimental economicsmarket gamesfull Nash equilibrium

Mathematics Subject Classification ID

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

Related Items (4)

Decentralized pricing and the equivalence between Nash and Walrasian equilibrium ⋮ Pure strategy equilibria in symmetric two-player zero-sum games ⋮ An experiment on the efficiency of bilateral exchange under incomplete markets ⋮ An introduction to perfect and imperfect competition via bilateral oligopoly

Uses Software

• Z-Tree

Cites Work

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• Liquid markets and competition
• The market game: Existence and structure of equilibrium
• 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
• Retrading in market games.
• Inefficiency of Nash Equilibria
• Bargaining and Competition Part I: Characterization
• Approximate Efficiency of Non-Walrasian Nash Equilibria
• The Evolution of Walrasian Behavior

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