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| Author: | Selten, R. Mitzkewitz, M. Uhlrich, G. R. |
| Title: | Duopoly strategies programmed by experienced players |
| Journal: | Econometrica
1997 : MAY, VOL. 65:3, p. 517-555 |
| Index terms: | COMPUTER PROGRAMMING DUOPOLY STRATEGY COMPUTER MODELLING SYSTEMS |
| Language: | eng |
| Abstract: | This study reports on an application to a 20-period supergame of an asymmetric Cournot duopoly. The final strategies after three programming rounds show a typical structure in which no expectations are formed and nothing is optimized, but instead of this, fairness criteria are used to determine cooperative goals (ideal points). Cooperation is tried to achieve by a measure-for-measure policy which reciprocates movements away from and towards the ideal point by similar movements. The more typical strategy is the more successful it tend to be. |
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