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Phase Transition in a Non-Cooperative Population Game

Brazilian Review of Econometrics

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Title Phase Transition in a Non-Cooperative Population Game
Phase Transition in a Non-Cooperative Population Game
 
Creator do Carmo, Heron Carlos Esvael
de Freitas, Gustavo Gomes
 
Description We analyze the random field model applied to a non-cooperative social game of binary choices, as proposed by Durlauf (1997) and Brock and Durlauf (2001), but we allow for a more generic distribution of the agents’ heterogeneity. We aim to show that their results still hold, i.e., there can be multiple equilibria when agents have some interest in adjusting their strategic behavior to that prevailing as the aggregate choice and we discuss some features such as positive feedbacks, the social multiplier, and the possibility of increasing returns on the outcomes of economic policy due to social interactions.
We analyze the random field model applied to a non-cooperative social game of binary choices, as proposed by Durlauf (1997) and Brock and Durlauf (2001), but we allow for a more generic distribution of the agents’ heterogeneity. We aim to show that their results still hold, i.e., there can be multiple equilibria when agents have some interest in adjusting their strategic behavior to that prevailing as the aggregate choice and we discuss some features such as positive feedbacks, the social multiplier, and the possibility of increasing returns on the outcomes of economic policy due to social interactions.
 
Publisher Sociedade Brasileira de Econometria
 
Date 2007-11-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
application/pdf
 
Identifier http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/1527
10.12660/bre.v27n22007.1527
 
Source Brazilian Review of Econometrics; Vol. 27 No. 2 (2007); 233-258
Brazilian Review of Econometrics; v. 27 n. 2 (2007); 233-258
1980-2447
 
Language eng
por
 
Relation http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/1527/970
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/1527/971