Imitative and best response behaviors in a nonlinear Cournotian setting.

We consider the competition among quantity setting players in a deterministic nonlinear oligopoly framework characterized by an isoelastic demand curve. Players are characterized by having heterogeneous decisional mechanisms to set their outputs: some players are imitators, while the remaining others adopt a rational-like rule according to which their past decisions are adjusted towards their static expectation best response. The Cournot-Nash production level is a stationary state of our model together with a further production level that can be interpreted as the competitive outcome in case only imitators are present.