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Informational externalities and emergence of consensus

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Author Info
Rosenberg, Dinah
Solan, Eilon
Vieille, Nicolas
Abstract

We study a general model of dynamic games with purely informational externalities. We prove that eventually all motives for experimentation disappear, and provide the exact rate at which experimentation decays. We also provide tight conditions under which players eventually reach a consensus. These results imply extensions of many known results in the literature of social learning and getting to agreement.

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File URL: http://www.sciencedirect.com/science/article/B6WFW-4TK92G3-2/2/3eb9ea1db0dae057b49589f4f30bf122
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Publisher Info
Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 66 (2009)
Issue (Month): 2 (July)
Pages: 979-994
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Handle: RePEc:eee:gamebe:v:66:y:2009:i:2:p:979-994

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Web page: http://www.elsevier.com/locate/inca/622836

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This page was last updated on 2009-12-3.

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