An Illustration of the Essential Difference between Individual and Social Learning, and its Consequences for Computational Analyses
Nicolaas J. Vriend, Queen Mary and Westfield College, University of London
Journal of Economic Dynamics and Control, 2000, Vol. 24, p. 1-19

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Abstract. Drawing a conclusion from recent insights in evolutionary game theory, we show that a so-called spite-effect implies that there is an essential difference between individual and social learning. We illustrate its consequences for the choice of computational tools in economics and social settings in general by analyzing two variants of a Genetic Algorithm.

J.E.L. classification codes. C72, D43, D83

Keywords. Cournot oligopoly, individual learning, social learning, spite effect, Genetic Algorithm

Nick Vriend,
Last modified 2016-02-05