English, Article, Journal or magazine article edition: MULTIPLICIDADE DE EQUILÍBRIOS E TRANSIÇÃO DE FASE EM UM MODELO DE CAMPOS ALEATÓRIOS PARA UM JOGO SOCIAL NÃO-COOPERATIVO Gustavo Gomes de Freitas; Heron Carlos Esvael do Carmo

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Bookmark: http://trove.nla.gov.au/version/125082
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • MULTIPLICIDADE DE EQUILÍBRIOS E TRANSIÇÃO DE FASE EM UM MODELO DE CAMPOS ALEATÓRIOS PARA UM JOGO SOCIAL NÃO-COOPERATIVO
Author
  • Gustavo Gomes de Freitas
  • Heron Carlos Esvael do Carmo
Physical Description
  • preprint
Notes
  • We apply the random fields framework proposed by Durlauf (1997) and Brock and Durlauf (2001) to a non-cooperative game of binary choices. We extend their model to allow for a more general distribution of the economic agents heterogeneity, in accordance with Glaeser and Scheinckman (2001). We analyze the existence and multiplicity of equilibria in that non-cooperative game, when agents can exhibit some interest to adjust their strategic behaviour to that prevailing in the aggregate. Depending on the conformity of players' behaviour, concerning the social average choice, there can be a multiplicity of equilibria.
  • RePEc:anp:en2004:083
Language
  • English
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