Path-dependence and learning from neighbors
Path-dependence and learning from neighbors
We study the long-run properties of a class of locally interactive learning systems. A finite set of players at fixed locations play a two-by-two symmetric normal form game with strategic complementarities, with one of their “neighbors” selected at random. Because of the endogenous nature of experimentation, or “noise,” the systems we study exhibit a high degree of path dependence. Different actions of a pure coordination game may survive in the long-run at different locations of the system. A reinterpretation of our results shows that the local nature of search may be a robust reason for price dispersion in a search model.
141-177
Anderlini, L.
663a49c7-c623-4b58-ac94-0749c332a713
Ianni, A.
35024f65-34cd-4e20-9b2a-554600d739f3
1996
Anderlini, L.
663a49c7-c623-4b58-ac94-0749c332a713
Ianni, A.
35024f65-34cd-4e20-9b2a-554600d739f3
Anderlini, L. and Ianni, A.
(1996)
Path-dependence and learning from neighbors.
Games and Economic Behavior, 13 (2), .
(doi:10.1006/game.1996.0032).
Abstract
We study the long-run properties of a class of locally interactive learning systems. A finite set of players at fixed locations play a two-by-two symmetric normal form game with strategic complementarities, with one of their “neighbors” selected at random. Because of the endogenous nature of experimentation, or “noise,” the systems we study exhibit a high degree of path dependence. Different actions of a pure coordination game may survive in the long-run at different locations of the system. A reinterpretation of our results shows that the local nature of search may be a robust reason for price dispersion in a search model.
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Published date: 1996
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Local EPrints ID: 32966
URI: http://eprints.soton.ac.uk/id/eprint/32966
ISSN: 0899-8256
PURE UUID: 36f336f7-8ac5-4661-a001-0a8097a39476
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Date deposited: 05 Jul 2007
Last modified: 16 Mar 2024 02:51
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Author:
L. Anderlini
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