TY - JOUR
T1 - Experimentation, Imitation, and Stochastic Stability
T2 - Addendum
AU - Gale, Douglas
AU - Rosenthal, Robert W.
N1 - Funding Information:
1We thank a referee and an associate editor for suggestions, Mike Harrison for technical advice, and the National Science Foundation for financial assistance. Essentially the same paper has circulated under the title ‘‘Imitator Experimenter Dynamics: A Complete Characterization.’’
PY - 2001/3
Y1 - 2001/3
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=0242516509&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=0242516509&partnerID=8YFLogxK
U2 - 10.1006/jeth.2000.2707
DO - 10.1006/jeth.2000.2707
M3 - Comment/debate
AN - SCOPUS:0242516509
VL - 97
SP - 164
EP - 174
JO - Journal of Economic Theory
JF - Journal of Economic Theory
SN - 0022-0531
IS - 1
ER -