Rules of Thumb for Social Learning
研究人们如何通过观察邻居的技术选择来做决定,发现简单的经验法则在长期可能带来高效结果,但新技术推广初期调整可能很慢。
This paper studies agents who consider the experiences of their neighbors in deciding which of two technologies to use. The authors analyze two learning environments, one in which the same technology is optimal for all players and another in which each technology is better for some of them. In both environments, players use exogenously specified rules of thumb that ignore historical data but may incorporate a tendency to use the more popular technology. In some cases, these naive rules can lead to fairly efficient decisions in the long run but adjustment can be slow when a superior technology is first introduced. Copyright 1993 by University of Chicago Press.