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Imitation and Local Interactions: Long Run Equilibrium Selection

Author

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  • Eugenio Vicario

    (Department of Economics and Management, University of Florence, Via Delle Pandette 9, 50127 Florence, Italy)

Abstract

In this paper, we analyze the long run dynamics of a multi-agent game played on a one-dimensional lattice with periodic boundary conditions, i.e., a ring. Agents repeatedly play a 2 × 2 coordination game with neighbors where the payoff dominant action and the risk dominant action are distinct. Necessary and sufficient conditions for both the actions to be the unique long run equilibrium are provided. The result is obtained through the application of the radius and modified coradius technique.

Suggested Citation

  • Eugenio Vicario, 2021. "Imitation and Local Interactions: Long Run Equilibrium Selection," Games, MDPI, vol. 12(2), pages 1-19, April.
    • Handle: RePEc:gam:jgames:v:12:y:2021:i:2:p:30-:d:527878
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    References listed on IDEAS

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    1. Mihael Baketarić & Marjan Mernik & Tomaž Kosar, 2021. "Attraction Basins in Metaheuristics: A Systematic Mapping Study," Mathematics, MDPI, vol. 9(23), pages 1-25, November.

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