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Unfolding social hierarchies in large population games

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  • Fernando Vega Redondo

    (Instituto Valenciano de Investigaciones Económicas)

Abstract

Consider a large (continuum) population of finitely-lived agents organized in hierarchical levels.Every period, agents are matched to play a certain symmetric game. On the basis of the payoffsobtained, a certain p-fraction of those who performed best at each level are promoted upwords. Onthe other hand, newcomers replacing those who die every period enter at the lowest level andimitate unbiasedly (but subject to noise) the actions adopted at the highest one. In this context, the (unique) long-run behavior of the system is fully characterized for the wholeclass of 2x2 coordination games. The results crucially depend on the institutional parameter p(which refelcts how hierarchical - or selective - the society is) and on a purely ordinal criterion onthe payoffs of the game. In particular, efficent (or inefficent behaviour) may prevail in the long run -even when risk-dominated - if promotion in society is (or, respectively, is not) selective enough.

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File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1997-23.pdf
File Function: Fisrt version / Primera version, 1997
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1997-23.

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Length: 38 pages
Date of creation: Dec 1997
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:1997-23

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Related research

Keywords: Social hierarchies; large population games;

References

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  1. Fershtman, C. & Murphy, K.M., 1993. "Social Status, Education and Growth," Papers, Tel Aviv 8-93, Tel Aviv.
  2. Karandikar, Rajeeva & Mookherjee, Dilip & Ray, Debraj & Vega-Redondo, Fernando, 1998. "Evolving Aspirations and Cooperation," Journal of Economic Theory, Elsevier, vol. 80(2), pages 292-331, June.
  3. D. Fudenberg & C. Harris, 2010. "Evolutionary Dynamics with Aggregate Shocks," Levine's Working Paper Archive 496, David K. Levine.
  4. Samuelson Larry, 1994. "Stochastic Stability in Games with Alternative Best Replies," Journal of Economic Theory, Elsevier, vol. 64(1), pages 35-65, October.
  5. George Mailath & Larry Samuelson & Avner Shaked, 1994. "Evolution and Endogenous Interactions," Game Theory and Information, EconWPA 9410003, EconWPA.
  6. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 57-84, January.
  7. Vega-Redondo, Fernando, 2000. "Unfolding Social Hierarchies," Journal of Economic Theory, Elsevier, vol. 90(2), pages 177-203, February.
  8. Harold L. Cole & George J. Mailath & Andrew Postlewaite, . "Class Systems and the Enforcement of Social Norms," Penn CARESS Working Papers bdb2c3969ad56e98068513c7c, Penn Economics Department.
  9. Kandori, M. & Mailath, G.J., 1991. "Learning, Mutation, And Long Run Equilibria In Games," Papers, Princeton, Woodrow Wilson School - John M. Olin Program 71, Princeton, Woodrow Wilson School - John M. Olin Program.
  10. Feldman, Mark & Gilles, Christian, 1985. "An expository note on individual risk without aggregate uncertainty," Journal of Economic Theory, Elsevier, vol. 35(1), pages 26-32, February.
  11. Ellison, Glenn, 1993. "Learning, Local Interaction, and Coordination," Econometrica, Econometric Society, Econometric Society, vol. 61(5), pages 1047-71, September.
  12. Judd, Kenneth L., 1985. "The law of large numbers with a continuum of IID random variables," Journal of Economic Theory, Elsevier, vol. 35(1), pages 19-25, February.
  13. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, December.
  14. Cole, Harold L & Mailath, George J & Postlewaite, Andrew, 1992. "Social Norms, Savings Behavior, and Growth," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(6), pages 1092-1125, December.
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