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This paper develops a stochastic learning model in which agents choose a limited number of partners to play size-dependent minimum-effort games. The payoff for each agent in this interaction depends on the minimum of the efforts of her partners and herself, and is increasing with the size of her...
Persistent link: https://www.econbiz.de/10014079699
This paper develops a model in which agents choose a limited number of partners to play a coordination game. We introduce a hybrid revision protocol, in which an agent may revise only her action, only her links or both her action and links. We show that risk-dominant strategy profiles will be...
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We study the impact of swtiching costs on the long run outcome in 2x2 conordination games played in the circular city model oflocal interactions. For low levels of switiching costs the predictions are in line with the previous literature and the risk dominant convention is the unique long run...
Persistent link: https://www.econbiz.de/10010755182