Universidad Complutense de Madrid
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Learning and coordinating in a multilayer network

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Lugo, Haydée and San Miguel, Maxi (2014) Learning and coordinating in a multilayer network. [ Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE); nº 30, 2014, ISSN: 2341-2356 ] (Unpublished)

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Abstract

We introduce a two layer network model for social coordination incorporating two relevant ingredients: a) different networks of interaction to learn and to obtain a pay-off, and b) decision making processes based both on social and strategic motivations. Two populations of agents are distributed in two layers with intralayer learning processes and playing interlayer a coordination game. We find that the skepticism about the wisdom of crowd and the local connectivity are the driving forces to accomplish full coordination of the two populations, while polarized coordinated layers are only possible for all-to-all interactions. Local interactions also allow for full coordination in the socially efficient Pareto-dominant strategy in spite of being the riskier one.


Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Doubt-based decisions, Coordination games, Multilayer network.
Subjects:Social sciences > Economics > Econometrics
JEL:D69, D79, C63
Series Name:Documentos de Trabajo del Instituto Complutense de Análisis Económico (ICAE)
Volume:2014
Number:30
ID Code:27354
Deposited On:13 Nov 2014 09:37
Last Modified:20 Nov 2014 09:37

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