Imitation - Theory and Experimental Evidence

Jose Apesteguia, Steffen Huck and Jörg Oechssler

No 20/2003, Bonn Econ Discussion Papers from University of Bonn, Bonn Graduate School of Economics (BGSE)

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)
Date: 2003
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Citations: View citations in EconPapers (11)

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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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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bonedp:202003

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