Showing 1 - 2 of 2
This paper investigates the dynamics of product adoption under incomplete information regarding product quality. A revising agent observes a small sample of actions played in the population and also receives a private signal indicating the realized state. Using a simple heuristic, the agent...
Persistent link: https://www.econbiz.de/10014346203
Coordination games admit two types of equilibria: coordinated pure equilibria in which everyone plays the same action, and inefficient mixed equilibria with miscoordination. The existing literature shows that populations will converge to one of the pure coordinated equilibria from almost any...
Persistent link: https://www.econbiz.de/10014261482