Co-evolving better strategies in oligopolistic price wars
Author: Midgley, David ; Marks, Robert ; Cooper, LeeINSEAD Area: Marketing In: Handbook of research on nature-inspired computing for economics and management - Rennard, Jean-Philippe - 2007 - Book Language: EnglishDescription: p. 806-821.Type of document: INSEAD ChapterNote: Please ask us for this itemAbstract: Using empirical market data from brand rivalry in a retail ground-coffee market, the authors model each idiosyncratic brand's pricing behaviour using the restriction that marketing strategies depend only on profit-relevant state variables, and use the Genetic Algorithm to search for co-evolved equilibria, where each profit-maximizing brand manager is a stimulus-response automaton, responding to past prices in the asymmetric oligopolistic market. Part of a growing study of repeated interactions and oligopolistic behaviour using the GA.| Item type | Current location | Collection | Call number | Status | Date due | Barcode | Item holds |
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Digital Library | Available | BC007863 |
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Using empirical market data from brand rivalry in a retail ground-coffee market, the authors model each idiosyncratic brand's pricing behaviour using the restriction that marketing strategies depend only on profit-relevant state variables, and use the Genetic Algorithm to search for co-evolved equilibria, where each profit-maximizing brand manager is a stimulus-response automaton, responding to past prices in the asymmetric oligopolistic market. Part of a growing study of repeated interactions and oligopolistic behaviour using the GA.
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