IDEAS home Printed from https://ideas.repec.org/a/ebl/ecbull/eb-03c70002.html
   My bibliography  Save this article

A comment on "The selection of preferences through imitation"

Author

Listed:
  • Manfred Nermuth

    (Dept. of Economics, University of Vienna)

  • Carlos Alos-Ferrer

    (Dept. of Economics, University of Vienna, Austria)

Abstract

We observe that the imitation dynamics of Cubitt and Sugden (Review of Economic Studies, 1998, hereafter CS) is the same as the Replicator Dynamics for a certain class of games. Known results for such games then permit a more complete analysis of the CS imitation process, containing their results as special cases, and extending them considerably. We also offer a comment on the special role of "pure" prospects.

Suggested Citation

  • Manfred Nermuth & Carlos Alos-Ferrer, 2003. "A comment on "The selection of preferences through imitation"," Economics Bulletin, AccessEcon, vol. 3(7), pages 1-9.
  • Handle: RePEc:ebl:ecbull:eb-03c70002
    as

    Download full text from publisher

    File URL: http://www.accessecon.com/pubs/EB/2003/Volume3/EB-03C70002A.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Yuzuru Sato & Eizo Akiyama & J. Doyne Farmer, 2001. "Chaos in Learning a Simple Two Person Game," Working Papers 01-09-049, Santa Fe Institute.
    2. Schlag, Karl H., 1998. "Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits," Journal of Economic Theory, Elsevier, vol. 78(1), pages 130-156, January.
    3. Schlag, Karl H., 1998. "Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits," Journal of Economic Theory, Elsevier, vol. 78(1), pages 130-156, January.
    4. Fishburn, P. C., 1984. "Dominance in SSB utility theory," Journal of Economic Theory, Elsevier, vol. 34(1), pages 130-148, October.
    5. Robin P. Cubitt & Robert Sugden, 1998. "The Selection of Preferences Through Imitation," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 65(4), pages 761-771.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. J. C. R. Alcantud & Carlos Alós-Ferrer, 2002. "Choice-Nash Equilibria," Vienna Economics Papers vie0209, University of Vienna, Department of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Manfred Nermuth & Carlos Alos-Ferrer, 2003. "A comment on "The selection of preferences through imitation"," Economics Bulletin, AccessEcon, vol. 3(7), pages 1-9.
    2. Jonas Hedlund & Carlos Oyarzun, 2018. "Imitation in heterogeneous populations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 937-973, June.
    3. Klaus Abbink & Ronald Bosman & Ronald Heijmans & Frans van Winden, 2017. "Disruptions in Large-Value Payment Systems: An Experimental Approach," International Journal of Central Banking, International Journal of Central Banking, vol. 13(4), pages 63-95, December.
    4. Klaus Abbink & Jordi Brandts, 2002. "24," UFAE and IAE Working Papers 523.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
      • Jordi Brandts & Klaus Abbink, 2004. "24," Levine's Bibliography 122247000000000073, UCLA Department of Economics.
    5. Abbink, Klaus & Brandts, Jordi, 2008. "24. Pricing in Bertrand competition with increasing marginal costs," Games and Economic Behavior, Elsevier, vol. 63(1), pages 1-31, May.
    6. Carlos Oyarzun & Johannes Ruf, 2009. "Monotone imitation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 41(3), pages 411-441, December.
    7. Dehai Liu & Hongyi Li & Weiguo Wang & Chuang Zhou, 2015. "Scenario forecast model of long term trends in rural labor transfer based on evolutionary games," Journal of Evolutionary Economics, Springer, vol. 25(3), pages 649-670, July.
    8. Michael Kosfeld, 2002. "Stochastic strategy adjustment in coordination games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(2), pages 321-339.
    9. Schumacher, Heiner, 2013. "Imitating cooperation and the formation of long-term relationships," Journal of Economic Theory, Elsevier, vol. 148(1), pages 409-417.
    10. David Hirshleifer & Joshua B. Plotkin, 2021. "Moonshots, investment booms, and selection bias in the transmission of cultural traits," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 118(26), pages 2015571118-, June.
    11. Basov, S., 2001. "An Evolutionary Model of Reciprocity," Department of Economics - Working Papers Series 812, The University of Melbourne.
    12. Sandholm,W.H., 2003. "Excess payoff dynamics, potential dynamics, and stable games," Working papers 5, Wisconsin Madison - Social Systems.
    13. Alessandro Lizzeri & Marciano Siniscalchi, 2008. "Parental Guidance and Supervised Learning," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 123(3), pages 1161-1195.
    14. Boncinelli Leonardo, 2008. "Global vs. Local Information in (Anti-)Coordination Problems with Imitators," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 8(1), pages 1-19, June.
    15. Antonio Cabrales & Giovanni Ponti, 2000. "Implementation, Elimination of Weakly Dominated Strategies and Evolutionary Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(2), pages 247-282, April.
    16. repec:awi:wpaper:0461 is not listed on IDEAS
    17. Michel BenaÔm & J–rgen W. Weibull, 2003. "Deterministic Approximation of Stochastic Evolution in Games," Econometrica, Econometric Society, vol. 71(3), pages 873-903, May.
    18. Choi, S. & Goyal, G. & Moisan, F., 2020. "Large Scale Experiments on Networks: A New Platform with Applications," Cambridge Working Papers in Economics 2063, Faculty of Economics, University of Cambridge.
    19. Alós-Ferrer, Carlos & Weidenholzer, Simon, 2014. "Imitation and the role of information in overcoming coordination failures," Games and Economic Behavior, Elsevier, vol. 87(C), pages 397-411.
    20. Tuinstra, Jan & Wegener, Michael & Westerhoff, Frank, 2014. "Positive welfare effects of trade barriers in a dynamic partial equilibrium model," Journal of Economic Dynamics and Control, Elsevier, vol. 48(C), pages 246-264.
    21. Jaime Iranzo & Luis M Floría & Yamir Moreno & Angel Sánchez, 2012. "Empathy Emerges Spontaneously in the Ultimatum Game: Small Groups and Networks," PLOS ONE, Public Library of Science, vol. 7(9), pages 1-8, September.

    More about this item

    Keywords

    Imitation;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-03c70002. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: John P. Conley (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.