Convergence of strategic behavior to price taking

Leonidas C. Koutsougeras

doi:10.1016/j.geb.2007.10.012

Convergence of strategic behavior to price taking

Leonidas C. Koutsougeras

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We address the following issue: what can be said about the degree of competition, in a set of markets with a large number of participants, when no information on the distribution of individual characteristics is available? Our main result is that the proportion of individuals whose strategic behavior differs substantially from price taking, converges to zero as the number of market participants becomes large, regardless of the distribution of characteristics. © 2008 Elsevier Inc. All rights reserved.

Original language	English
Pages (from-to)	234-241
Number of pages	7
Journal	Games and Economic Behavior
Volume	65
Issue number	1
DOIs	https://doi.org/10.1016/j.geb.2007.10.012
Publication status	Published - Jan 2009

Keywords

Convergence
Price taking
Strategic behavior

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10.1016/j.geb.2007.10.012

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AB - We address the following issue: what can be said about the degree of competition, in a set of markets with a large number of participants, when no information on the distribution of individual characteristics is available? Our main result is that the proportion of individuals whose strategic behavior differs substantially from price taking, converges to zero as the number of market participants becomes large, regardless of the distribution of characteristics. © 2008 Elsevier Inc. All rights reserved.

KW - Convergence

KW - Price taking

KW - Strategic behavior

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DO - 10.1016/j.geb.2007.10.012

M3 - Article

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JO - Games and Economic Behavior

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IS - 1

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Convergence of strategic behavior to price taking

Abstract

Keywords

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