Abstract
Firm as agent, a free competitive market is build. The interaction rule between agents (firms) is Prisoner's Dilemma game. Each agent can adopt competition or cooperation strategy and can also change its strategy during the market gaming process, which is called an adapting process. The principle of adapting is maximum benefit, so, the next-step’s strategy of an agent in the gaming process at a free competitive market is the same with the neighbor who was the biggest winner in last game circle. Using Java platform and thread, applet technologies, a visually oriented simulation program is programmed and run repeatedly. Different patterns created and some meaningful rules in free competitive market can be concluded. Depended on these direct-viewing representations, we can get some cognition about free competitive market and how to manage a firm under different market environment.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
