Monotone imitation

Oyarzun, Carlos and Ruf, Johannes (2009) Monotone imitation. Economic Theory, 41 3: 411-441. doi:10.1007/s00199-008-0398-9


Author Oyarzun, Carlos
Ruf, Johannes
Title Monotone imitation
Journal name Economic Theory   Check publisher's open access policy
ISSN 0938-2259
Publication date 2009-09
Sub-type Article (original research)
DOI 10.1007/s00199-008-0398-9
Volume 41
Issue 3
Start page 411
End page 441
Total pages 31
Place of publication Germany
Publisher Springer
Language eng
Formatted abstract
We analyze the social learning process of a group of individuals who
have limited information about the payoff distributions of each action. We say that
a behavioral rule is first-order monotone (FOM) if the number of individuals who
play actions with first-order stochastic dominant payoff distributions is expected to
increase in any environment. We provide a characterization of FOM rules. Both Imitate
if Better and Schlag’s (J Econ Theory 78:130–156, 1998) Proportional Imitation
rule are FOM. No FOM rule is dominant in the sense of having the best performance
in every environment.© Springer-Verlag 2008
Keyword Imitation
Social learning
Stochastic dominance
First-order monotonicity
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Unknown

Document type: Journal Article
Sub-type: Article (original research)
Collection: School of Economics Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 4 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 4 times in Scopus Article | Citations
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Created: Mon, 03 Oct 2011, 12:27:22 EST by Alys Hohnen on behalf of School of Economics