
handle: 10419/222355 , 10419/202426
We study intra-individual behavioral heterogeneity in an experimental Cournot oligopoly. Previous empirical results in this setting have demonstrated convergence to competitive outcomes, in agreement with theoretical predictions assuming that players imitate successful opponents. We postulate that players sometimes rely on imitation of successful behavior, and sometimes best reply to the actions of others. Testable predictions are obtained from a model allowing for multiple behavioral rules which accounts for differences in the cognitive nature of the underlying decision processes. Those include non-trivial response time interactions depending on whether the rules share a common prescription (alignment) or not (conflict), a classification which is ex ante observable. The results confirm the hypotheses and support the presence of multiple behavioral rules at the individual level.
Economics and Econometrics, Organizational Behavior and Human Resource Management, 2002 Economics and Econometrics, Verhaltensökonomie, 1407 Organizational Behavior and Human Resource Management, multiple behavioral rules, imitation, Nachahmung, ECON Department of Economics, C72, 10007 Department of Economics, best reply, Entscheidungsfindung, C91, C92, D91, Cournot oligopoly, reinforcement, Best reply, ddc:330, 330 Economics, Multiple behavioral rules, Imitation, Oligopol, D03
Economics and Econometrics, Organizational Behavior and Human Resource Management, 2002 Economics and Econometrics, Verhaltensökonomie, 1407 Organizational Behavior and Human Resource Management, multiple behavioral rules, imitation, Nachahmung, ECON Department of Economics, C72, 10007 Department of Economics, best reply, Entscheidungsfindung, C91, C92, D91, Cournot oligopoly, reinforcement, Best reply, ddc:330, 330 Economics, Multiple behavioral rules, Imitation, Oligopol, D03
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