Comparative Learning Dynamics*
研究基于相对绩效标准的经济环境中的动态调整规则,区分模仿性动态和内省性动态,发现模仿性动态下代理人收益更低,模仿最佳实践适得其反。
We study economic environments in which agents make choices on the basis of relative performance criteria and call the associated class of dynamic adjustment rules comparative dynamics . We distinguish two classes of learning behavior: learning from the population experience (imitative dynamics) and learning only from one's own experience (introspective dynamics). Paradoxically, for a broad class of models, comparing stochastically stable states across dynamics, agent payoffs are lower for imitative than introspective dynamics—mimicking best practice in the population is counterproductive.