The Effect of Loyalty on Bertrand Equlibria in Posted Offer Markets
I worked on this project with Horatio Caine. The project was for 50% credit on the Parallel Programming course in the final study year. We investigated the effect of introducing loyalty into a posted offer market, using a multi-agent simulation in CUDA to model the interactions between consumers and manufacturers. We found that the introduction of loyalty meant that a Bertrand equilibrium was not reached.
The project received a special mention for the “most scientifically accomplished project” on the course.
You can find the project on GitHub.