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A Comment on "The Selection of Preferences Through Imitation"

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Abstract

We observe that the imitation dynamics of Cubitt and Sugden (CS) is the same as the Replicator Dynamics for a certain class of games. Known results for such games then permit a more complete analysis of the CS imitaion process, containing their results as special cases, and extending them considerably. We also offer a comment on the special role of "pure" prospects, and an as if interpretation of the CS process in terms of payoff-guided imitation.

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File URL: http://homepage.univie.ac.at/Papers.Econ/RePEc/vie/viennp/vie0207.pdf
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Paper provided by University of Vienna, Department of Economics in its series Vienna Economics Papers with number 0207.

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Date of creation: Apr 2002
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Handle: RePEc:vie:viennp:0207

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Web page: http://www.univie.ac.at/vwl

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  1. K. Schlag, 2010. "Why Imitate, and if so, How? Exploring a Model of Social Evolution," Levine's Working Paper Archive 454, David K. Levine.
  2. Fishburn, P. C., 1984. "Dominance in SSB utility theory," Journal of Economic Theory, Elsevier, vol. 34(1), pages 130-148, October.
  3. Karl H. Schlag, 1995. "Why Imitate, and if so, How? A Bounded Rational Approach to Multi-Armed Bandits," Discussion Paper Serie B 361, University of Bonn, Germany, revised Mar 1996.
  4. Jorgen W. Weibull, 1997. "Evolutionary Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262731215, December.
  5. Cubitt, Robin P & Sugden, Robert, 1998. "The Selection of Preferences through Imitation," Review of Economic Studies, Wiley Blackwell, vol. 65(4), pages 761-71, October.
  6. Yuzuru Sato & Eizo Akiyama & J. Doyne Farmer, 2001. "Chaos in Learning a Simple Two Person Game," Working Papers 01-09-049, Santa Fe Institute.
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Cited by:
  1. Alcantud, J. C. R., 2002. "Non-binary choice in a non-deterministic model," Economics Letters, Elsevier, vol. 77(1), pages 117-123, September.
  2. J. C. R. Alcantud & Carlos Alós-Ferrer, 2002. "Choice-Nash Equilibria," Vienna Economics Papers 0209, University of Vienna, Department of Economics.

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