Conventions, local interaction, and automata networks
AbstractThis paper deals with the evolution of conventions in a finite population of boundedly rational players. We apply methods from the theory of automata networks to analyze the effects of different interaction structures. It is shown that the size of the reference group for each player has an important impact on the evolutionary stability of a particular convention, and that the interaction structure crucially determines the distribution of conventions in the population.
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Bibliographic InfoArticle provided by Springer in its journal Journal of Evolutionary Economics.
Volume (Year): 6 (1996)
Issue (Month): 3 ()
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Web page: http://link.springer.de/link/service/journals/00191/index.htm
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- C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
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- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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