On the Role of the Group Composition for Achieving Optimality

Antonio Morales ()

Annals of Operations Research, 2005, vol. 137, issue 1, 387-397

Abstract: We show the inability of any pure strategy imitation rule for leading a decision maker towards optimality for given and fixed population behaviour. The intuition is that a pure strategy state space is too small to deal with a large variety of environments. This result helps to understand the optimality result obtained by Schlag (1998), where the population behaviour is let to evolve over time. The intuition is that the group composition provides an additional state space in which information about the environment can be accumulated. Copyright Springer Science + Business Media, Inc. 2005

Keywords: population; imitation; multi-armed bandit (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1007/s10479-005-2268-1 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:annopr:v:137:y:2005:i:1:p:387-397:10.1007/s10479-005-2268-1

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10479

DOI: 10.1007/s10479-005-2268-1

Access Statistics for this article

Annals of Operations Research is currently edited by Endre Boros

More articles in Annals of Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().