Publication: When are efficient conventions selected in networks?
When are efficient conventions selected in networks?
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Alós-Ferrer, C., Buckenmaier, J., & Farolfi, F. (2021). When are efficient conventions selected in networks? Journal of Economic Dynamics and Control, 124, 104074. https://doi.org/10.1016/j.jedc.2021.104074
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We study the determinants of convergence to efficient conventions in coordination games played on networks, when agents focus on past performance (imitative play). Previous theoretical results provide an incomplete picture and suggest potentially-complex interactions between the features of dynamics and behavior. We conducted an extensive simulation study (with approximately 1.12 million simulations) varying network size, interaction and information radius, the probability of actual interaction, the probability of mistakes, tie-breaki
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- Buckenmaier, Johannes
- Farolfi, Federica
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Alós-Ferrer, C., Buckenmaier, J., & Farolfi, F. (2021). When are efficient conventions selected in networks? Journal of Economic Dynamics and Control, 124, 104074. https://doi.org/10.1016/j.jedc.2021.104074
