Which misspecifications persist?

We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can...
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Gespeichert in:

Autor*in:	Fudenberg, Drew - 1957- [verfasserIn] Lanzani, Giacomo [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch

Erschienen:	2023

Rechteinformationen:	Open Access Namensnennung-Nicht kommerziell 4.0 International ; CC BY-NC 4.0

Schlagwörter:	Berk-Nash equilibrium evolution Misspecified learning payoff monotone dynamics

Übergeordnetes Werk:	Enthalten in: Theoretical economics - Toronto : [Verlag nicht ermittelbar], 2006, 18(2023), 3 vom: Juli, Seite 1271-1315
Übergeordnetes Werk:	volume:18 ; year:2023 ; number:3 ; month:07 ; pages:1271-1315

Links:	Link aufrufen Link aufrufen Link aufrufen

DOI / URN:	10.3982/TE5298

Katalog-ID:	185611077X

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allfields	10.3982/TE5298 doi 10419/296439 hdl (DE-627)185611077X (DE-599)KXP185611077X DE-627 ger DE-627 rda eng Fudenberg, Drew 1957- verfasserin (DE-588)170071790 (DE-627)060094486 (DE-576)130984159 aut Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence. DE-206 Namensnennung-Nicht kommerziell 4.0 International CC BY-NC 4.0 cc https://creativecommons.org/licenses/by-nc/4.0/ Berk-Nash equilibrium (dpeaa)DE-206 evolution (dpeaa)DE-206 Misspecified learning (dpeaa)DE-206 payoff monotone dynamics (dpeaa)DE-206 Lanzani, Giacomo verfasserin aut Enthalten in Theoretical economics Toronto : [Verlag nicht ermittelbar], 2006 18(2023), 3 vom: Juli, Seite 1271-1315 Online-Ressource (DE-627)507184807 (DE-600)2220447-7 (DE-576)28129948X 1555-7561 nnns volume:18 year:2023 number:3 month:07 pages:1271-1315 https://onlinelibrary.wiley.com/doi/pdfdirect/10.3982/TE5298 Verlag kostenfrei https://doi.org/10.3982/TE5298 Resolving-System kostenfrei https://hdl.handle.net/10419/296439 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_171 GBV_ILN_184 GBV_ILN_206 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 18 2023 3 7 1271-1315 26 01 0206 4365906402 x1z 14-08-23 2403 01 DE-LFER 4375624043 00 --%%-- --%%-- n --%%-- l01 13-09-23 2403 01 DE-LFER https://doi.org/10.3982/TE5298
spelling	10.3982/TE5298 doi 10419/296439 hdl (DE-627)185611077X (DE-599)KXP185611077X DE-627 ger DE-627 rda eng Fudenberg, Drew 1957- verfasserin (DE-588)170071790 (DE-627)060094486 (DE-576)130984159 aut Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence. DE-206 Namensnennung-Nicht kommerziell 4.0 International CC BY-NC 4.0 cc https://creativecommons.org/licenses/by-nc/4.0/ Berk-Nash equilibrium (dpeaa)DE-206 evolution (dpeaa)DE-206 Misspecified learning (dpeaa)DE-206 payoff monotone dynamics (dpeaa)DE-206 Lanzani, Giacomo verfasserin aut Enthalten in Theoretical economics Toronto : [Verlag nicht ermittelbar], 2006 18(2023), 3 vom: Juli, Seite 1271-1315 Online-Ressource (DE-627)507184807 (DE-600)2220447-7 (DE-576)28129948X 1555-7561 nnns volume:18 year:2023 number:3 month:07 pages:1271-1315 https://onlinelibrary.wiley.com/doi/pdfdirect/10.3982/TE5298 Verlag kostenfrei https://doi.org/10.3982/TE5298 Resolving-System kostenfrei https://hdl.handle.net/10419/296439 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_171 GBV_ILN_184 GBV_ILN_206 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 18 2023 3 7 1271-1315 26 01 0206 4365906402 x1z 14-08-23 2403 01 DE-LFER 4375624043 00 --%%-- --%%-- n --%%-- l01 13-09-23 2403 01 DE-LFER https://doi.org/10.3982/TE5298
allfields_unstemmed	10.3982/TE5298 doi 10419/296439 hdl (DE-627)185611077X (DE-599)KXP185611077X DE-627 ger DE-627 rda eng Fudenberg, Drew 1957- verfasserin (DE-588)170071790 (DE-627)060094486 (DE-576)130984159 aut Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence. DE-206 Namensnennung-Nicht kommerziell 4.0 International CC BY-NC 4.0 cc https://creativecommons.org/licenses/by-nc/4.0/ Berk-Nash equilibrium (dpeaa)DE-206 evolution (dpeaa)DE-206 Misspecified learning (dpeaa)DE-206 payoff monotone dynamics (dpeaa)DE-206 Lanzani, Giacomo verfasserin aut Enthalten in Theoretical economics Toronto : [Verlag nicht ermittelbar], 2006 18(2023), 3 vom: Juli, Seite 1271-1315 Online-Ressource (DE-627)507184807 (DE-600)2220447-7 (DE-576)28129948X 1555-7561 nnns volume:18 year:2023 number:3 month:07 pages:1271-1315 https://onlinelibrary.wiley.com/doi/pdfdirect/10.3982/TE5298 Verlag kostenfrei https://doi.org/10.3982/TE5298 Resolving-System kostenfrei https://hdl.handle.net/10419/296439 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_171 GBV_ILN_184 GBV_ILN_206 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 18 2023 3 7 1271-1315 26 01 0206 4365906402 x1z 14-08-23 2403 01 DE-LFER 4375624043 00 --%%-- --%%-- n --%%-- l01 13-09-23 2403 01 DE-LFER https://doi.org/10.3982/TE5298
allfieldsGer	10.3982/TE5298 doi 10419/296439 hdl (DE-627)185611077X (DE-599)KXP185611077X DE-627 ger DE-627 rda eng Fudenberg, Drew 1957- verfasserin (DE-588)170071790 (DE-627)060094486 (DE-576)130984159 aut Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence. DE-206 Namensnennung-Nicht kommerziell 4.0 International CC BY-NC 4.0 cc https://creativecommons.org/licenses/by-nc/4.0/ Berk-Nash equilibrium (dpeaa)DE-206 evolution (dpeaa)DE-206 Misspecified learning (dpeaa)DE-206 payoff monotone dynamics (dpeaa)DE-206 Lanzani, Giacomo verfasserin aut Enthalten in Theoretical economics Toronto : [Verlag nicht ermittelbar], 2006 18(2023), 3 vom: Juli, Seite 1271-1315 Online-Ressource (DE-627)507184807 (DE-600)2220447-7 (DE-576)28129948X 1555-7561 nnns volume:18 year:2023 number:3 month:07 pages:1271-1315 https://onlinelibrary.wiley.com/doi/pdfdirect/10.3982/TE5298 Verlag kostenfrei https://doi.org/10.3982/TE5298 Resolving-System kostenfrei https://hdl.handle.net/10419/296439 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_171 GBV_ILN_184 GBV_ILN_206 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 18 2023 3 7 1271-1315 26 01 0206 4365906402 x1z 14-08-23 2403 01 DE-LFER 4375624043 00 --%%-- --%%-- n --%%-- l01 13-09-23 2403 01 DE-LFER https://doi.org/10.3982/TE5298
allfieldsSound	10.3982/TE5298 doi 10419/296439 hdl (DE-627)185611077X (DE-599)KXP185611077X DE-627 ger DE-627 rda eng Fudenberg, Drew 1957- verfasserin (DE-588)170071790 (DE-627)060094486 (DE-576)130984159 aut Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence. DE-206 Namensnennung-Nicht kommerziell 4.0 International CC BY-NC 4.0 cc https://creativecommons.org/licenses/by-nc/4.0/ Berk-Nash equilibrium (dpeaa)DE-206 evolution (dpeaa)DE-206 Misspecified learning (dpeaa)DE-206 payoff monotone dynamics (dpeaa)DE-206 Lanzani, Giacomo verfasserin aut Enthalten in Theoretical economics Toronto : [Verlag nicht ermittelbar], 2006 18(2023), 3 vom: Juli, Seite 1271-1315 Online-Ressource (DE-627)507184807 (DE-600)2220447-7 (DE-576)28129948X 1555-7561 nnns volume:18 year:2023 number:3 month:07 pages:1271-1315 https://onlinelibrary.wiley.com/doi/pdfdirect/10.3982/TE5298 Verlag kostenfrei https://doi.org/10.3982/TE5298 Resolving-System kostenfrei https://hdl.handle.net/10419/296439 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_171 GBV_ILN_184 GBV_ILN_206 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_636 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2106 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2118 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 18 2023 3 7 1271-1315 26 01 0206 4365906402 x1z 14-08-23 2403 01 DE-LFER 4375624043 00 --%%-- --%%-- n --%%-- l01 13-09-23 2403 01 DE-LFER https://doi.org/10.3982/TE5298
language	English
source	Enthalten in Theoretical economics 18(2023), 3 vom: Juli, Seite 1271-1315 volume:18 year:2023 number:3 month:07 pages:1271-1315
sourceStr	Enthalten in Theoretical economics 18(2023), 3 vom: Juli, Seite 1271-1315 volume:18 year:2023 number:3 month:07 pages:1271-1315
format_phy_str_mv	Article
building	26:1 2403:0
institution	findex.gbv.de
selectbib_iln_str_mv	26@1z 2403@01
topic_facet	Berk-Nash equilibrium evolution Misspecified learning payoff monotone dynamics
isfreeaccess_bool	true
container_title	Theoretical economics
authorswithroles_txt_mv	Fudenberg, Drew @@aut@@ Lanzani, Giacomo @@aut@@
publishDateDaySort_date	2023-07-01T00:00:00Z
hierarchy_top_id	507184807
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language_de	englisch
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author	Fudenberg, Drew 1957-
spellingShingle	Fudenberg, Drew 1957- misc Berk-Nash equilibrium misc evolution misc Misspecified learning misc payoff monotone dynamics Which misspecifications persist?
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topic_title	Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani Berk-Nash equilibrium (dpeaa)DE-206 evolution (dpeaa)DE-206 Misspecified learning (dpeaa)DE-206 payoff monotone dynamics (dpeaa)DE-206
topic	misc Berk-Nash equilibrium misc evolution misc Misspecified learning misc payoff monotone dynamics
topic_unstemmed	misc Berk-Nash equilibrium misc evolution misc Misspecified learning misc payoff monotone dynamics
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title	Which misspecifications persist?
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title_full	Which misspecifications persist? Drew Fudenberg, Giacomo Lanzani
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title_sort	which misspecifications persist?
title_auth	Which misspecifications persist?
abstract	We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence.
abstractGer	We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence.
abstract_unstemmed	We use an evolutionary model to determine which misperceptions can persist. Every period, a new generation of agents use their subjective models and the data generated by the previous generation to update their beliefs, and models that induce better actions become more prevalent. An equilibrium can resist mutations that lead agents to use a model that better fits the equilibrium data but induce the mutated agents to take an action with lower payoffs. We characterize which steady states resist mutations to a nearby model, and which resist mutations that drop a qualitative restriction such as independence.
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title_short	Which misspecifications persist?
url	https://onlinelibrary.wiley.com/doi/pdfdirect/10.3982/TE5298 https://doi.org/10.3982/TE5298 https://hdl.handle.net/10419/296439
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