Cournot competition and endogenous firm size |
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| Authors: | Francesco Saraceno Jason Barr |
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| Institution: | 1.Observatoire Fran?ais des Conjonctures économiques,Paris,France;2.Rutgers University,Newark,USA |
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| Abstract: | The paper studies the dynamics of firm size in a repeated Cournot game with unknown demand function. We model the firm as
a type of artificial neural network. Each period it must learn to map environmental signals to both a demand parameter and
its rival’s output choice. However, this learning game is in the background, as we focus on the endogenous adjustment of network
size. We investigate the long-run evolution of firm/network size as a function of profits, rival’s size, and the type of adjustment
rules used.
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| Keywords: | Firm size Adjustment dynamics Artificial neural networks Cournot games |
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