Information and learning in oligopoly: An experiment

M Bigoni, M Fort - Games and Economic Behavior, 2013 - Elsevier
This paper presents an experiment on learning in repeated games, which complements the
analysis of playersʼ actual choices with data on the information acquisition process they
follow. Subjects play a repeated Cournot oligopoly, with limited a priori information. The
econometrics hinges on a model built upon Experience Weighted Attraction learning, and
the simultaneous analysis of data on the information gathered and on actions taken by the
subjects. Results suggest that learning is a composite process, in which different …

Information and learning in oligopoly: An experiment

M Bigoni - Available at SSRN 1134750, 2009 - papers.ssrn.com
I propose a novel experimental approach to the study of learning in repeated games,
complementing the analysis of players' actual choices with data on the information
acquisition process they follow. The game played is a repeated Cournot oligopoly, with
limited information. The econometrics hinges on a model built upon EWA learning, and
simultaneously analyzing data on information gathered and on actions taken by the
subjects. Results suggest that learning is a composite process, in which different …
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