Stochastic evolutionary cartel formation
This paper employs the evolutionary dynamics driven by the Moran process (a special birth-death process) to investigate endogenous cartel formation from the perspective of stochastic evolution of the underlying industry. A Prisoner’s Dilemma game is derived based on the Cournot competition between a...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2014-01-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/939.pdf
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