Logical Gaps in the Approximate Solutions of the Social Learning Game and an Exact Solution

Wenjie Dai, Xin Wang, Zengru Di and Jinshan Wu

PLOS ONE, 2014, vol. 9, issue 12, 1-18

Abstract: After the social learning models were proposed, finding solutions to the games becomes a well-defined mathematical question. However, almost all papers on the games and their applications are based on solutions built either upon an ad-hoc argument or a twisted Bayesian analysis of the games. Here, we present logical gaps in those solutions and offer an exact solution of our own. We also introduce a minor extension to the original game so that not only logical differences but also differences in action outcomes among those solutions become visible.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:plo:pone00:0115706

DOI: 10.1371/journal.pone.0115706

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