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Upravlenie Bol'shimi Sistemami, 2016, Issue 64, Pages 112–136 (Mi ubs899)  

This article is cited in 4 scientific papers (total in 4 papers)

Control in Social and Economic Systems

Information equilibriu, in dynamic model of collective behavior in a competitive market

G. Algazin, D. Algazina

Altai State University
Full-text PDF (668 kB) Citations (4)
References:
Abstract: The article presents a dynamic model of reflexive behavior which provides a unified approach to description of interactions of Cournot/Stackelberg agents in a competitive market in the absence of common knowledge. The approach based on game theory and the theory of collective behavior with incomplete information. The model is a conventional Cournout output competition with linear costs and the inverse demand function. Rational agents in the model have incorrect initial beliefs about marginal costs of their competitors. We investigate two cases: (1) all agents act simultaneously and (2) first agent is a Stackelberg leader. We study repeated interactions when the agents dynamically update their actions and beliefs based on observed actions of their competitors. A unified procedure of beliefs update is provided for both cases. Necessary and sufficient conditions for the convergence of dynamic processes to the equilibrium with true beliefs are obtained. The results are illustrated with numerical examples.
Keywords: incomplete information, information equilibrium, collective behavior, Cournout competitive market, marginal costs, Stackelberg leader.
Bibliographic databases:
Document Type: Article
UDC: 519.86
BBC: 22.18+65.42
Language: Russian
Citation: G. Algazin, D. Algazina, “Information equilibriu, in dynamic model of collective behavior in a competitive market”, UBS, 64 (2016), 112–136
Citation in format AMSBIB
\Bibitem{AlgAlg16}
\by G.~Algazin, D.~Algazina
\paper Information equilibriu, in dynamic model of collective behavior in a competitive market
\jour UBS
\yr 2016
\vol 64
\pages 112--136
\mathnet{http://mi.mathnet.ru/ubs899}
\elib{https://elibrary.ru/item.asp?id=27485098}
Linking options:
  • https://www.mathnet.ru/eng/ubs899
  • https://www.mathnet.ru/eng/ubs/v64/p112
  • This publication is cited in the following 4 articles:
    1. G. I. Algazin, Yu. G. Algazina, “Reflexive dynamics in the Cournot oligopoly under uncertainty”, Autom. Remote Control, 81:2 (2020), 287–301  mathnet  crossref  crossref  isi  elib
    2. M. I. Geraskin, “Reflexive games in the linear Stackelberg duopoly models under incoincident reflexion ranks”, Autom. Remote Control, 81:2 (2020), 302–319  mathnet  crossref  crossref  isi  elib
    3. G. I. Algazin, D. G. Algazina, “Reflexion processes and equilibrium in an oligopoly model with a leader”, Autom. Remote Control, 81:7 (2020), 1258–1270  mathnet  crossref  crossref  isi  elib  elib
    4. G. I. Algazin, D. G. Algazina, “Collective behavior in the Stackelberg model under incomplete information”, Autom. Remote Control, 78:9 (2017), 1619–1630  mathnet  crossref  isi  elib
    Citing articles in Google Scholar: Russian citations, English citations
    Related articles in Google Scholar: Russian articles, English articles
    Upravlenie Bol'shimi Sistemami
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    Full-text PDF :83
    References:52
     
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