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The effect of feedback consistency on success in markets with positive feedbacks

Pj Lamberson () and Scott E. Page

Economics Letters, 2012, vol. 114, issue 3, 259-261

Abstract: In this paper, we show how the finite time expected outcomes in a stochastic ball and urn model depend on the variation in feedbacks by applying the concept of second order stochastic dominance to the feedback distribution. We find that less variation leads to greater expected outcomes.

Keywords: Urn model; Positive feedbacks; Stochastic dominance (search for similar items in EconPapers)
JEL-codes: C1 L1 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1016/j.econlet.2011.10.022

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