Journal
JOURNAL OF ECONOMIC THEORY
Volume 159, Issue -, Pages 66-69Publisher
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jet.2015.05.012
Keywords
Imitation dynamics; Stochastic processes
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Funding
- Natural Sciences and Engineering Research Council of Canada (NSERC)
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We give an alternative proof of a result of Fudenberg and Imhof (2006) on the embedded Markov chain of an imitation process with small mutations. Our proof also extends this result to more general imitation processes that, with rare mutations, have unique stationary distributions but are not necessarily irreducible. (C) 2015 Elsevier Inc. All rights reserved.
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