Experimentation, Imitation, and Stochastic Stability

Addendum

Douglas Gale, Robert W. Rosenthal

    Research output: Contribution to journalArticle

    Abstract

    Results from D. Gale and R. W. Rosenthal [J. Econ. Theory84 (1999), 1-40] are extended to characterize convergence properties of the model for (almost) every set of parameters. In particular, there is a sharp delineation between the parameter region in which the process of experimentation and imitation converges almost surely to the equilibrium and another region in which the process is only weakly convergent (unstable in the small but not too unstable). Journal of Economic Literature. Classification Number: D83.

    Original languageEnglish (US)
    Pages (from-to)164-174
    Number of pages11
    JournalJournal of Economic Theory
    Volume97
    Issue number1
    DOIs
    StatePublished - Mar 2001

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    Imitation
    Stochastic stability
    Experimentation
    Economics

    ASJC Scopus subject areas

    • Economics and Econometrics

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    Experimentation, Imitation, and Stochastic Stability : Addendum. / Gale, Douglas; Rosenthal, Robert W.

    In: Journal of Economic Theory, Vol. 97, No. 1, 03.2001, p. 164-174.

    Research output: Contribution to journalArticle

    Gale, Douglas ; Rosenthal, Robert W. / Experimentation, Imitation, and Stochastic Stability : Addendum. In: Journal of Economic Theory. 2001 ; Vol. 97, No. 1. pp. 164-174.
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