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exchange games (Mittone and Ploner, 2011, Gachter et al. 2010) have proved that the imitation of partners’ behaviors can have …
Persistent link: https://www.econbiz.de/10009644905
provides an agent-based model of a Walrasian economy where the tâtonnement is replaced by imitation. His simulations show that … goods imitation-based adjustments alter the equilibrium's data (which makes the demonstration of stability impossible) and …
Persistent link: https://www.econbiz.de/10005766506
both personal experience and imitation. Personal experience is represented by choice sets depending upon previous choices …. Imitation is modeled first through popularity weighting and then through a network of social influences. Intuition suggests … imitation can work as a source of variety, spreading behaviors among which memory can make selection. However inefficiencies …
Persistent link: https://www.econbiz.de/10005766528
In this paper I apply stochastic stability to compare local information to global information in terms of welfare. Under global information agents potentially imitate anyone else, while under local information choices are grouped into information sets and agents can observe and hence imitate...
Persistent link: https://www.econbiz.de/10005704523