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Submodularity and the Evolution of Walrasian Behavior

By Burkhard Schipper

Abstract

Vega-Redondo (1997) showed that imitation leads to the Walrasian outcome in Cournot Oligopoly. We generalize his result to aggregative quasi-submodular games. Examples are the Cournot Oligopoly, Bertrand games with differentiated complementary products, Common- Pool Resource games, Rent-Seeking games and generalized Nash-Demand games.imitation, price-taking behavior, lattice theory, stochastic stability

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