The effect of feedback consistency on success in markets with positive feedbacks

In this paper, we show how the finite time expected outcomes in a stochastic ball and urn model depend on the variation in feedbacks by applying the concept of second order stochastic dominance to the feedback distribution. We find that less variation leads to greater expected outcomes.

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Year of publication:	2012
Authors:	Lamberson, P.J. ; Page, Scott E.
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 114.2012, 3, p. 259-261
Publisher:	Elsevier
Subject:	Urn model \| Positive feedbacks \| Stochastic dominance

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Type of publication:	Article
Classification:	L1 - Market Structure, Firm Strategy, and Market Performance ; C1 - Econometric and Statistical Methods: General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010572257