Imitation - theory and experimental evidence

• 成果类型: Article
• 署名作者: Apesteguia, Jose; Huck, Steffen; Oechssler, Joerg
• 署名单位: Ruprecht Karls University Heidelberg; Pompeu Fabra University; University of London; University College London; University of London; University College London
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2006.07.006
• 发表日期: 2007
• 页码: 217-235
• 关键词: Evolutionary game theory; stochastic stability; imitation; Cournot markets; INFORMATION; experiments; simulations

摘要

We introduce a generalized theoretical approach to study imitation and subject it to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are mainly explained by different informational assumptions, and to a lesser extent by different behavioral rules. In a laboratory experiment we test the different theories by systematically varying information conditions. We find significant effects of seemingly innocent changes in information. Moreover, the generalized imitation model predicts the differences between treatments well. The data provide support for imitation on the individual level, both in terms of choice and in terms of perception. Furthermore, individuals' propensity to imitate more successful actions is increasing in payoff differences. (C) 2006 Elsevier Inc. All rights reserved.