Multiple Equilibria and Selection by Learning in an Applied Setting

Lee, Robin S.Pakes, Ariel2018-12-142009-07Lee, Robin S., and Ariel Pakes. 2009. “Multiple Equilibria and Selection by Learning in an Applied Setting.” Economics Letters 104 (1): 13–16. https://doi.org/10.1016/j.econlet.2009.03.004.0165-1765http://nrs.harvard.edu/urn-3:HUL.InstRepos:37907087We explore two complementary approaches to counterfactual analysis in an empirical ATM network example with multiple equilibria. First we simply enumerate and compare the possible equilibria. Second, we examine how different learning algorithms select among them.en-USMultiple Equilibria and Selection by Learning in an Applied SettingJournal Article2018-12-1410.1016/j.econlet.2009.03.004