Schipper, Burkhard (contributor) - 2002 - [Elektronische Ressource]
the previous opponents’ output. The dy-
namics of the decision rules induce a Markov chain. As expression of
bounded … rationality, firms are allowed to make mistakes and deviate
from the decision rules with a small probability. Applying stochastic … conjecture by [11] Friedman (1953).
JEL-Classifications: C72, D21, D43, L13.
Keywords: imitation, myopic best reply, bounded …