SMU SOE Seminar (Aug 29, 2019): Conventions under Heterogeneous Choice Rules

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ABSTRACT Strategies of players in a population are updated according to the choice rules of agents, where each agent is a player or a coalition of players. It is known that classic results on the stochastic stability of conventions are due to an asymmetry property of the strategy updating process. We show that asymmetry can be defined at the level of the choice rule and that asymmetric rules can be mixed and matched whilst retaining asymmetry of the aggregate process. Specifically, we show robustness of asymmetry to heterogeneity within an agent (Alice follows different rules at different times); heterogeneity between agents (Alice and Bob follow different rules); and heterogeneity in the timing of strategy updating. These results greatly expand and convexify the domain of choice rules for which results on the stochastic stability of conventions are known. Keywords: Evolution, conventions, heterogeneity, representative agent. Click here to view the paper. Click here to view the CV.
		PRESENTER Jonathan Newton Kyoto University
		RESEARCH FIELDS Evolutionary Game Theory Coalitional Behaviour Social Learning & Networks Strategic Information Transmission
		DATE: 29 August 2019 (Thursday)
		TIME: 4pm - 5.30pm
		VENUE: Meeting Room 5.1, Level 5 School of Economics Singapore Management University 90 Stamford Road Singapore 178903