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This paper analyzes an evolutionary model where agents who are locally matched to play a general coordination game can adjust both their strategy and location. These decisions are subject to friction, so that an agent who migrates to a different location may be unable to adjust her strategy...
Persistent link: https://www.econbiz.de/10005572234
the potential proces, while the second phase determines the actual matching. We prove that the set of subgame perfect …
Persistent link: https://www.econbiz.de/10005168483