Experimentation, Imitation, and Stochastic Stability: Addendum

Douglas Gale, Robert W. Rosenthal

    Research output: Contribution to journalComment/debate

    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

    ASJC Scopus subject areas

    • Economics and Econometrics

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