Eductive stability may not imply evolutionary stability in the presence of information costs

C-Tier
Journal: Economics Letters
Year: 2020
Volume: 186
Issue: C

Authors (2)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Founded on a Muthian cobweb model, this study extends the evolutionary setting in Hommes and Wagener (2010), by assuming that agents face heterogeneous information costs. We prove that the equilibrium, when globally eductively stable, may be unstable under evolutionary learning.

Technical Details

RePEc Handle
repec:eee:ecolet:v:186:y:2020:i:c:s0165176519302381
Journal Field
General
Author Count
2
Added to Database
2026-01-26