Submodularity and the Evolution of Walrasian Behavior

Schipper, Burkhard C.

doi:10.2139/ssrn.369360

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Submodularity and the Evolution of Walrasian Behavior

12 Pages Posted: 18 Oct 2004

See all articles by Burkhard C. Schipper

Burkhard C. Schipper

University of California, Davis - Department of Economics

There are 2 versions of this paper

Date Written: January 2004

Abstract

Vega-Redondo (1997) showed that imitation leads to the Walrasian outcome in Cournot Oligopoly. We generalize his result to aggregative quasi-submodular games. Examples are the Cournot Oligopoly, Bertrand games with differentiated complementary products, Common-Pool Resource games, Rent-Seeking games and generalized Nash-Demand games.

Keywords: imitation, price-taking behavior, lattice theory, stochastic stability

JEL Classification: C72, D21, D43, L13

Suggested Citation: Suggested Citation

Schipper, Burkhard C., Submodularity and the Evolution of Walrasian Behavior (January 2004). Available at SSRN: https://ssrn.com/abstract=369360 or http://dx.doi.org/10.2139/ssrn.369360