Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5062273 | Economics Letters | 2006 | 6 Pages |
Abstract
We consider a circular city model as in Ellison [Ellison, G., 1993. Learning, local interaction, and coordination, Econometrica 61, 1047-1071], where agents follow imitation rules rather than myopic best-response. If interactions are neither global nor limited to the immediate neighbors, payoff-efficient equilibria, and not risk-dominant ones, can be uniquely selected.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Carlos Alós-Ferrer, Simon Weidenholzer,