Arbeitspapier
Idiosyncratic and Aggregate Time-Varying Mutation Rates in Coordination Games
We extend the standard evolutionary model of Kandori, Mailath, andRob (1993) to incorporate time-varying aggregate and idiosyncraticshocks separately in coordination games.We show that both types of shocks have a different effect on theinvariant distribution over the different equilibria of dthe game.While idiosyncratic shocks are shown to be neutral, the aggregateshocks introduce a systematic bias against the risk dominantequilibrium.Different from Kandori, Mailath, and Rob (1993) we derive a sufficient conditionunder which this bias prevents equilibrium selection with probability one.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 01-041/1
- Klassifikation
-
Wirtschaft
- Thema
-
Spieltheorie
Schock
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Houba, Harold
Tieman, Alexander F.
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Houba, Harold
- Tieman, Alexander F.
- Tinbergen Institute
Entstanden
- 2001
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