Experimentation, Imitation, and Stochastic Stability
AbstractIn this paper we model the dynamic interaction of two types of agents, experimenters and imitators, whose behavior is characterized by simple rules of thumb. The agents repeatedly play a one-shot game in which the agent's actions are strategic substitutes.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 84 (1999)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Douglas Gale & Robert W. Rosenthal, 1996. "Experimentation, Imitation, and Stochastic Stability," Papers 0065, Boston University - Industry Studies Programme.
- Gale, D. & Rosental, R.W., 1996. "Experimentation, Imitation, and Stochastic Stability," Papers 65, Boston University - Industry Studies Programme.
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
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