Founded on a Muthian cobweb model, this study extends the evolutionary setting in Hommes and Wagener (2010), by assuming that agents face heterogeneous information costs. We prove that the equilibrium, when globally eductively stable, may be unstable under evolutionary learning.

Naimzada, A., Pireddu, M. (2020). Eductive stability may not imply evolutionary stability in the presence of information costs. ECONOMICS LETTERS, 186 [10.1016/j.econlet.2019.06.019].

Eductive stability may not imply evolutionary stability in the presence of information costs

Naimzada, AK
;
Pireddu, M
2020

Abstract

Founded on a Muthian cobweb model, this study extends the evolutionary setting in Hommes and Wagener (2010), by assuming that agents face heterogeneous information costs. We prove that the equilibrium, when globally eductively stable, may be unstable under evolutionary learning.
Articolo in rivista - Articolo scientifico
Muthian cobweb model; heterogeneous agents; evolutionary learning; eductive stability; information costs; double stability threshold
English
5-lug-2019
2020
186
108513
none
Naimzada, A., Pireddu, M. (2020). Eductive stability may not imply evolutionary stability in the presence of information costs. ECONOMICS LETTERS, 186 [10.1016/j.econlet.2019.06.019].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/234213
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