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Migration and the evolution of conventions

  • Fernando Vega Redondo

    (Instituto Valenciano de Investigaciones Económicas)

  • Ventakamaran Bhaskar

    (Department of Economics)

This paper analyzes an evolutionary model where agents are locally matched to playa coordination game and can adjust both their strategy and location. Their decisions are subject to friction, so that an agent who migrates to a different location may be unable to adjust her strategy optimally to the new environment. A condition on off-equilibrium payoffs introduced by Aumann (1993) plays a major role in our characterization (for general coordination games) of the long-run outcomes. For the particular 2 x 2 case, this condition (which is unrelated to risk dominance) implies that the possibility of medium term simultaneous co-existence of conventions at different locations depends on whether the game is of "pure" coordination (where co-existence is always possible) or of the stag'-hunt type (where it is not). When we introduce noise (Le. mutations) into the model, this distinction continuous to play a crucial role in the selection of the long'-run equilibria: for large friction, both equilibria are stochastically stable in the former case, whereas only the efficient one is so in the latter.

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Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1996-23.

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Length: 36 pages
Date of creation: Dec 1996
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasad:1996-23
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  1. Ellison, Glenn, 1993. "Learning, Local Interaction, and Coordination," Econometrica, Econometric Society, vol. 61(5), pages 1047-71, September.
  2. Binmore, Ken & Samuelson, Larry, 1997. "Muddling Through: Noisy Equilibrium Selection," Journal of Economic Theory, Elsevier, vol. 74(2), pages 235-265, June.
  3. Farrell, Joseph, 1988. "Communication, coordination and Nash equilibrium," Economics Letters, Elsevier, vol. 27(3), pages 209-214.
  4. Joerg Oechssler, 1994. "Decentralization and the Coordination Problem," Game Theory and Information 9403004, EconWPA.
  5. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
  6. Dieckmann, Tone, 1999. "The evolution of conventions with mobile players," Journal of Economic Behavior & Organization, Elsevier, vol. 38(1), pages 93-111, January.
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