A non-standard approach to a market with boundedly rational consumers and strategic firms. Part I: A microfoundation for the evolution of sales
نویسندگان
چکیده
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.
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تاریخ انتشار 2008