Template-Type: ReDIF-Paper 1.0
Title: Trial & Error to Collusion - The Discrete Case
Author-Name: Steffen Huck
Author-Name: Hans-Theo Normann
Author-Name: Jörg Oechssler
Classification-JEL: C72, L13
Keywords: learning, Cournot oligopoly
Abstract: In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly.
	Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long
	as this leads to higher profits. We show that despite the absence of any coordination or punishing device this process
	 converges to a collusive outcome.
Note: 
Length: 
Creation-Date: 2000-05
Revision-Date: 
File-URL: http://www.wiwi.uni-bonn.de/bgsepapers/bonedp/bgse6_2000.pdf
File-Format: application/pdf
Handle: RePEc:bon:bonedp:bgse6_2000