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The relation between imitation and cooperation in evolutionary settings presents complex aspects. From one hand, in any environment where egoists are favored over cooperators by selection processes, imitation should lead to a further spreading of the former ones due to the combined processes of...
Persistent link: https://www.econbiz.de/10004983533
This paper investigates the relevance of reputation to improve the explorative capabilities of agents in uncertain environments. We have presented a laboratory experiment where sixty-four subjects were asked to take iterated economic investment decisions. An agent-based model based on their...
Persistent link: https://www.econbiz.de/10008520795