Social Conformity in Games with Many Players
AbstractIn the literature of psychology and economics it is frequently observed that individuals tend to imitate similar individuals. A fundamental question is whether the outcome of such imitation can be consistent with self-interested behaviour. We propose that this consistency requires the existence of a Nash equilibrium that introduces a partition of the player set into relatively few groups of similar individuals playing the same or similar strategies. In this paper we define and characterize a family of games admitting existence of approximate Nash equilibria in pure strategies that introduce partitions of the player sets with the desired properties. We also introduce the Conley-Wooders concept of 'crowding types' into our description of players and distinguish between the crowding type of a player - those characteristics of a player that have direct effect on others - and his tastes, taken to directly affect only that player. With the assumptions of 'within crowding type anonymity' and a 'convexity of taste-types' assumption we show that the number of groups can be uniformly bounded.
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Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 682.
Length: 26 pages
Date of creation: 2003
Date of revision:
Other versions of this item:
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
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