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| Hsiao-Chi Chen, Yunshyong Chow and Li-Chau Wu |
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| ''Imitation, local interaction, and efficiency: reappraisal'' |
| ( 2012, Vol. 32 No.1 ) |
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| We revisit the model of Alos-Ferrer and Weidenholzer (2006) but under the assumption that risk-dominant equilibria are Pareto efficient. It is found that risk-dominant equilibria, non-risk-dominant equilibria, and some non-monomorphic states can emerge in the long run when players interact with their immediate neighbors only.
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| Keywords: Coordination game, imitation, local interaction |
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| Manuscript Received : Nov 20 2011 | | Manuscript Accepted : Feb 20 2012 |
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