possible in some cases. However, once consumer learning is introduced, the monopoly outcome first found by Diamond (1971) is …

) proposes to use genetic algorithm for studying learning dynamics in this game and obtains convergence to Cournot equilibrium … with individual learning. We show in this article how social learning gives rise to Walras equilibrium and why, in a … general setup, individual learning can effectively yield convergence to Cournot instead of Walras equilibrium. We illustrate …

This paper develops and analyses a dynamic model, which combines both the adoption and the industry evolution theories …. We model the decision of adoption, learning entry and exit of firms. These decisions depend on the interaction of …. The model we suggest also analyses effects on industry evolution and social welfare. …

This paper develops and analyses a dynamic model, which combines both the adoption and the industry evolution theories …. We model the decision of adoption, learning entry and exit of firms. These decisions depend on the interaction of …

this model of learning to a model of biological evolution. The purpose is to investigate analogies between learning and …This paper considers a version of Bush and Mosteller's stochastic learning theory in the context of games. We compare … evolution. We and that in the continuous time limit the biological model coincides with the deterministic, continuous time …

This risk.paper considers a simple learning process for decision problems under All behaviour change derives from the …

Fictitious play and "gradient" learning are examined in the context of a large population where agents are repeatedly … randomly matched. We show that the aggregation of this learning behaviour can be qualitatively di®erent from learning at the …

game theory, simple models of imitation, models of experimentation and adjustment, and some simple learning dynamics. We …