Bounded Rationality in a Cournot Duopoly Game
This paper analyzes choices and welfare in a Cournot duopoly setting with linear demand using four models of bounded rationality. The models studied in this paper are Level-k, Cognitive Hierarchy, Asymmetric Quantal Response and Noisy Introspection. It is found that in the Level-k model choices, pro...
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| Format: | Article |
| Language: | English |
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Universidad Autónoma de Nuevo León, Facultad de Economía
2015-11-01
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| Series: | Ensayos Revista de Economía |
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| Online Access: | http://ensayos.uanl.mx/index.php/ensayos/article/view/19 |