Resource title

A non-standard approach to a market with boundedly rational consumers and strategic firms : part I: microfoundation for the evolution of sales

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Resource description

In our model, individual consumers follow simple behavioral decision rules based on imitation and habit as suggested in consumer research, social learning, and related fields. Demand can be viewed as the outcome of a population game whose revision protocol is determined by the consumers' behavioral rules. The consumer dynamics are then analyzed in order to explore the demand side and first implications for a strategic supply side.

Resource author

Christina Matzke, Benedikt Wirth

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/27178

Resource license

Adapt according to the presented license agreement and reference the original author.