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Imitation and local interactions: Long run equilibrium selection

Vicario, Eugenio - In: Games 12 (2021) 2, pp. 1-19

In this paper, we analyze the long run dynamics of a multi-agent game played on a one-dimensional lattice with periodic boundary conditions, i.e., a ring. Agents repeatedly play a 2 × 2 coordination game with neighbors where the payoff dominant action and the risk dominant action are distinct....

Persistent link: https://www.econbiz.de/10013200092

An adaptive learning model in coordination games

Funai, Naoki - In: Games 4 (2013) 4, pp. 648-669

In this paper, we provide a theoretical prediction of the way in which adaptive players behave in the long run in normal form games with strict Nash equilibria. In the model, each player assigns subjective payoff assessments to his own actions, where the assessment of each action is a weighted...

Persistent link: https://www.econbiz.de/10010369376

Success rates in simplified threshold public goods games: A theoretical model

Feige, Christian - 2015

This paper develops a theoretical model based on theories of equilibrium selection in order to predict success rates in threshold public goods games, i.e., the probability with which a group of players provides enough contribution in sum to exceed a predefined threshold value. For this purpose,...

Persistent link: https://www.econbiz.de/10011288336

Investigating peer and sorting effects within an adaptive multiplex network model

Lipari, Francesca; Stella, Massimo; Antonioni, Alberto - In: Games 10 (2019) 2, pp. 1-12

multiplex network who deal with coordination issues using social learning and payoff-driven dynamics. Agents form their … heterogeneous preference through learning on one layer and they play a pure coordination game on the other layer. People learn from …. We find that the presence of the social learning mechanism explains the rising and the endurance of a segregated society …

Persistent link: https://www.econbiz.de/10012227761

Local and Global Interactions in an Evolutionary Resource Game

Noailly, Joëlle; van den Bergh, Jeroen C.J.M.; … - 2005

. The evolution of strategies in the population is driven by social learning through imitation. Numerous types of equilibria …

Persistent link: https://www.econbiz.de/10010312430

Local Interactions as a Decentralized Mechanism Coordinating Equilibrium Expectations

Hohnisch, Martin - 2005

In the context of standard two-period pure-exchange economies with sequential trade, this paper proposes a decentralized coordination mechanism for equilibriumexpectations, facilitated by local interactions between agents. Interactions are modelled stochastically by specifying a family of...

Persistent link: https://www.econbiz.de/10010263152

Minority games, local interactions, and endogenous networks

Fagiolo, Giorgio; Valente, Marco - 2005

We study a local version of the Minority Game, where agents are placed on the nodes of a directed graph. Agents care about being in the minority of the group of agents they are currently linked to and employ myopic best-reply rules to choose their next-period state. We show that, in this...

Persistent link: https://www.econbiz.de/10010328384

Exploitation, exploration and innovation in a model of endogenous growth with locally interacting agents

Fagiolo, Giorgio; Dosi, Giovanni - 2003

The paper presents a model of endogenous growth in which firms are modeled as boundedly-rational, locally interacting, agents. Firms produce a homogeneous good employing technologies located in an open-ended technological space and are allowed to either imitate existing, similar practices or to...

Persistent link: https://www.econbiz.de/10010328576

No man is an island: The impact of heterogeneity and local interactions on macroeconomic dynamics

Guerini, Mattia; Napoletano, Mauro; Roventini, Andrea - 2016

We develop an agent-based model in which heterogeneous firms and households interact in labor and good markets according to centralized or decentralized search and matching protocols. As the model has a deterministic backbone and a full-employment equilibrium, it can be directly compared to...

Persistent link: https://www.econbiz.de/10011789727

Geographic variations in a model of physician treatment choice with social interactions

Burke, Mary A.; Fournier, Gary M.; Prasad, Kislaya - 2009

Location-specific norms of behavior are a widespread phenomenon. In the case of medical practice, numerous studies have found that geographic location exerts a strong influence on the choice of treatments and procedures. This paper shows how the presence of social influence on treatment...

Persistent link: https://www.econbiz.de/10010280937