Articles

Informational externalities and emergence of consensus

D. ROSENBERG, E. Solan, N. VIEILLE

Games and Economic Behavior

juillet 2009, vol. 66, n°2, pp.979-994

Départements : Economie et Sciences de la décision, GREGHEC (CNRS)

Mots clés : Studies, Externality, Economic models, Game theory


We study a general model of dynamic games with purely informational externalities. We prove that eventually all motives for experimentation disappear, and provide the exact rate at which experimentation decays. We also provide tight conditions under which players eventually reach a consensus. These results imply extensions of many known results in the literature of social learning and getting to agreement.


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