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2000-04-17Buch DOI: 10.18452/3346
The East End, the West End, and King’s Cross
dc.contributor.authorHuck, Steffen
dc.contributor.authorMüller, Wieland
dc.contributor.authorVriend, Nicolaas J.
dc.date.accessioned2017-06-15T20:41:35Z
dc.date.available2017-06-15T20:41:35Z
dc.date.created2005-09-21
dc.date.issued2000-04-17
dc.identifier.issn1436-1086
dc.identifier.urihttp://edoc.hu-berlin.de/18452/3998
dc.description.abstractWe study experimentally a standard four–player Hotelling game, with a uniform density of consumers and inelastic demand. The pure strategy Nash equilibrium configuration consists of two firms located at one quarter of the "linear city", and the other two at three quarters. We do not observe convergence to such an equilibrium. In our experimental data we find three clusters. Besides the direct proximity of the two equilibrium locations this concerns the focal mid–point. Moreover, we observe that whereas this mid–point appears to become more notable over time, other focal points fade away. We explain how these observations are related to best–response dynamics, and to the fact that the players rely on best–responses in particular when they are close to the equilibrium configuration.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.subjectlocation modeleng
dc.subjectnonconvergenceeng
dc.subjectfocal pointeng
dc.subjectbest–response dynamicseng
dc.subject.ddc330 Wirtschaft
dc.titleThe East End, the West End, and King’s Cross
dc.typebook
dc.subtitleOn Clustering in the Four–Player Hotelling Game
dc.identifier.urnurn:nbn:de:kobv:11-10047303
dc.identifier.doihttp://dx.doi.org/10.18452/3346
local.edoc.container-titleSonderforschungsbereich 373: Quantification and Simulation of Economic Processes
local.edoc.pages21
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2000
local.edoc.container-issue24
local.edoc.container-year2000
local.edoc.container-erstkatid2135319-0

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