Article ID Journal Published Year Pages File Type
956798 Journal of Economic Theory 2014 16 Pages PDF
Abstract
We consider deterministic evolutionary dynamics under imitative revision protocols. We allow agents to have different aspiration levels in the imitative protocols where their aspiration levels are not observable to other agents. We show that the distribution of strategies becomes statistically independent of the aspiration level eventually in the long run. Thus, long-run properties of homogeneous imitative dynamics hold as well, despite heterogeneity in aspiration levels.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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