Reflexive Dynamics in the Cournot Oligopoly under Uncertainty

摘要

A model of dynamic behavior in the Cournot market in the class of linear demand and cost functions of agents is presented. Observing the current state of the market and considering current economic restrictions, agents refine their outputs in game-to-game dynamics and take steps towards the current position of their goal. Sufficient conditions on the step sizes chosen by agents independently of each other under which the dynamics converge to the static Cournot-Nash equilibrium are established.