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Article
Monotone Imitation
Economic Theory (2009)
  • Carlos Oyarzun, University of Queensland
  • Johannes Ruf, Columbia University
Abstract

We analyze the social learning process of a group of individuals who have limited information about the payoff distributions of each action. We say that a behavioral rule is first-order monotone (FOM) if the number of individuals who play actions with first-order stochastic dominant payoff distributions is expected to increase in any environment. We provide a characterization of FOM rules. Both Imitate if Better and Schlag’s (J Econ Theory 78:130-156, 1998) Proportional Imitation rule are FOM. No FOM rule is dominant in the sense of having the best performance in every environment.

Keywords
  • Imitation,
  • Social learning,
  • Stochastic dominance,
  • Firstorder monotonicity
Publication Date
2009
Citation Information
Carlos Oyarzun and Johannes Ruf. "Monotone Imitation" Economic Theory Vol. 41 Iss. 3 (2009)
Available at: http://works.bepress.com/oyarzun/1/