Which one should I imitate?
We consider the model of social learning by Schlag (1996). Individuals must repeatedly choose an action in a multi-armed bandit. We assume that each indivdiual observes the outcomes of two other individuals' choices before her own next choice must be made -- the original model only allows for one observation. Selection of optimal behavior yields a variant of the proportional imitation rule -- the optimal rule based on one observation. When each individual uses this rule then the adaptation of actions in an infinite population follows an aggregate monotone dynamic.
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- Samuelson, L., 1989.
"Evolutionnary Stability In Asymmetric Games,"
11-8-2, Pennsylvania State - Department of Economics.
- Jonas Bjoernerstedt & Karl H. Schlag, .
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ELSE working papers
029, ESRC Centre on Economics Learning and Social Evolution.
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"Word-of-Mouth Communication and Social Learning,"
Levine's Working Paper Archive
425, David K. Levine.
- Karl H. Schlag, .
"Why Imitate, and if so, How? A Bounded Rational Approach to Multi- Armed Bandits,"
ELSE working papers
028, ESRC Centre on Economics Learning and Social Evolution.
- Schlag, Karl H., 1998. "Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits," Journal of Economic Theory, Elsevier, vol. 78(1), pages 130-156, January.
- 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.
- L. Samuelson & J. Zhang, 2010. "Evolutionary Stability in Asymmetric Games," Levine's Working Paper Archive 453, David K. Levine.
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9612r, Wisconsin Madison - Social Systems.
- Dan Friedman, 2010. "Evolutionary Games in Economics," Levine's Working Paper Archive 392, David K. Levine.
- Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-66, May.
- Samuelson, Larry & Zhang, Jianbo, 1992. "Evolutionary stability in asymmetric games," Journal of Economic Theory, Elsevier, vol. 57(2), pages 363-391, August.
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