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We consider a co-evolutionary model of social coordination and network formation where agents may decide on an action in a 2x2 - coordination game and on whom to establish costly links to. We find that a payoff dominant convention is selected for a wider parameter range when agents may only...
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We describe the large deviations properties, stationary distribution asymptotics, and stochastically stable states of stochastic evolutionary processes based on the logit choice rule, focusing on behavior in the small noise double limit. These aspects of the stochastic evolutionary process can...
Persistent link: https://www.econbiz.de/10010340220
We consider a model of stochastic evolution under general noisy best response protocols, allowing the probabilities of suboptimal choices to depend on their payoff consequences. Our analysis focuses on behavior in the small noise double limit: we first take the noise level in agents’ decisions...
Persistent link: https://www.econbiz.de/10010340224
We consider a model of stochastic evolution under general noisy best response protocols, allowing the probabilities of suboptimal choices to depend on their payoff consequences. Our analysis focuses on behavior in the small noise double limit: we first take the noise level in agents' decisions...
Persistent link: https://www.econbiz.de/10011672142
Modeling the evolution of networks is central to our understanding of modern large communication systems, such as theWorld-Wide-Web, as well as economic and social networks. The research on social and economic networks is truly interdisciplinary and the number of modeling strategies and concepts...
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