Fudenberg, Drew; Imhof, Lorens A. - Harvard Institute of Economic Research (HIER), … - 2004
This note characterizes the impact of adding rare stochastic muta- tions to an "imitation dynamic," meaning a process with the properties that any state where all agents use the same strategy is absorbing, and all other states are transient. The work of Freidlin and Wentzell [10] and its...