Social learning, search and heterogeneity of payoffs

Cartwright, E.J. (2007) Social learning, search and heterogeneity of payoffs. Discussion paper. University of Kent, Canterbury (Full text available)

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Abstract

We consider a simple model that combines elements of search and social learning. Acting in sequence, and observing the action adopted by a previous agent, agents must search for an action. We explore why agent heterogeneity may increase expected payoffs and demonstrate that social learning may be most effective if agents are heterogenous.

Item Type: Monograph (Discussion paper)
Additional information: Discussion Paper No. 07/05
Uncontrolled keywords: Social learning, search, herding JEL Classification: C7, D8
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: Suzanne Duffy
Date Deposited: 23 Jul 2008 08:50
Last Modified: 05 Sep 2011 23:38
Resource URI: http://kar.kent.ac.uk/id/eprint/4618 (The current URI for this page, for reference purposes)
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