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Persistent link: https://www.econbiz.de/10011399384
We use an evolutionary model to simulate agents who choose between two options with stochastically varying payoffs. Two types of agents are considered: individual learners, who rely on trial-and-error methods, and social learners, who imitate the wealthiest sampled individual. Agents adapt to...
Persistent link: https://www.econbiz.de/10011263912