Rapid Evolution under Inertia.
This paper demonstrates that inertia driven by switching costs leads to more rapid evolution in a class of games that includes m × m pure coordination games. Under the best-response dynamic and a fixed rate of mutation, the expected waiting time to reach long-run equilibrium is of lower order in the...
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| Format: | Journal article |
| Język: | English |
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Elsevier
2009
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