Imitation in heterogeneous populations
We study a boundedly rational model of imitation when payoff distributions of actions differ across types of individuals. Individuals observe others’ actions and payoffs, and a comparison signal. One of two inefficiencies always arises: (i) uniform adoption, i.e., all individuals choose the action t...
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| Main Authors: | , |
|---|---|
| Format: | Article (Journal) |
| Language: | English |
| Published: |
2018
|
| In: |
Economic theory
Year: 2017, Volume: 65, Issue: 4, Pages: 937-973 |
| ISSN: | 1432-0479 |
| DOI: | 10.1007/s00199-017-1044-1 |
| Online Access: | Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1007/s00199-017-1044-1
|
| Author Notes: | Jonas Hedlund, Carlos Oyarzun |
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