More neighbors, more efficiency

B-Tier
Journal: Journal of Economic Dynamics and Control
Year: 2014
Volume: 40
Issue: C
Pages: 103-115

Score contribution per author:

2.018 = (α=2.02 / 1 authors) × 1.0x B-tier

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

Abstract

This paper considers a finite population of agents located within an arbitrary fixed network. Every agent plays a coordination game with his neighbors. If one neighbor's payoff from a specific interaction exceeds his average payoff per interaction, the neighbor is perceived as better performing. Over time agents imitate the strategies of their better performing neighbors; occasionally they make mistakes. Sufficient conditions for emergence of Pareto efficient and risk dominant conventions are provided. The paper also illustrates the main results through relevant examples.

Technical Details

RePEc Handle
repec:eee:dyncon:v:40:y:2014:i:c:p:103-115
Journal Field
Macro
Author Count
1
Added to Database
2026-01-25