Multiple equilibria and selection by learning in an applied setting

Robin S. Lee () and Ariel Pakes

Economics Letters, 2009, vol. 104, issue 1, pages 13-16

Abstract: We explore two complementary approaches to counterfactual analysis in an empirical ATM network example with multiple equilibria. First we simply enumerate and compare the possible equilibria. Second, we examine how different learning algorithms select among them.

Keywords: Multiple; equilibria; Learning; Counterfactuals; in; applied; work (search for similar items in EconPapers)
Date: 2009

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Persistent link: http://EconPapers.repec.org/RePEc:eee:ecolet:v:104:y:2009:i:1:p:13-16

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