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Path-dependence and learning from neighbors

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.
0899-8256
141-177
Anderlini, L.
663a49c7-c623-4b58-ac94-0749c332a713
Ianni, A.
35024f65-34cd-4e20-9b2a-554600d739f3
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), 141-177. (doi:10.1006/game.1996.0032).

Record type: Article

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

Identifiers

Local EPrints ID: 32966
URI: http://eprints.soton.ac.uk/id/eprint/32966
ISSN: 0899-8256
PURE UUID: 36f336f7-8ac5-4661-a001-0a8097a39476
ORCID for A. Ianni: ORCID iD orcid.org/0000-0002-5003-4482

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Date deposited: 05 Jul 2007
Last modified: 16 Mar 2024 02:51

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Contributors

Author: L. Anderlini
Author: A. Ianni ORCID iD

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