Imitation-Theory and Experimental Evidence-

Jose Apesteguia, Steffen Huck and Jörg Oechssler

No 306, Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra from Departamento de Economía - Universidad Pública de Navarra

Abstract: We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different behavioral rules. It is more important whom one imitates rather than how. In a laboratory experiment we test the different theories by systematically varying information conditions. We find that the generalized imitation model predicts the differences between treatments well. The data also provide support for imitation on the individual level, both in terms of choice and in terms of perception. But imitation is not unconditional. Rather individuals' propensity to imitate more successful actions is increasing in payoff differences.

Keywords: Evolutionary game theory; Stochastic stability; Imitation; Cournot markets; Experiments. (search for similar items in EconPapers)
JEL-codes: C72 C91 C92 D43 L13 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2003
New Economics Papers: this item is included in nep-cbe, nep-exp, nep-mic and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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Related works:
Journal Article: Imitation--theory and experimental evidence (2007)
Working Paper: Imitation - Theory and Experimental Evidence (2005)
Working Paper: Imitation - Theory and Experimental Evidence (2004)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
Working Paper: Imitation - Theory and Experimental Evidence (2003)
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