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Norms and the evolution of leaders' followership

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorCabrales Goitia, Antonio
dc.contributor.authorHauk, Esther
dc.contributor.funderEuropean Commissionen
dc.contributor.funderMinisterio de Ciencia e Innovación (España)es
dc.date.accessioned2022-11-04T10:44:28Z
dc.date.available2022-11-04T10:44:28Z
dc.date.issued2022-07-12
dc.description.abstractIn this paper we model the interaction between leaders, their followers and crowd followers in a coordination game with local interaction. The steady states of a dynamic best-response process can feature a coexistence of Pareto dominant and risk dominant actions in the population. The existence of leaders and their followers, plus the local interaction, which leads to clustering, is crucial for the survival of the Pareto dominant actions. The evolution of leader and crowd followership shows that leader followership can also be locally stable around Pareto dominant leaders. The paper answers the questions (i) which Leader should be removed and (ii) how to optimally place leaders in the network to enhance payoff dominant play.en
dc.description.sponsorshipEsther Hauk acknowledges financial support from the Spanish Agencia Estatal de Investigación (AEI), through the Severo Ochoa Programme for Centers of Excellence in R&D (Barcelona School of Economics CEX2019-000915-S) and from the Ministerio de Ciencia e Innovación through research project PID2021-126200NB-I00. Antonio Cabrales acknowledges the financial help of the European Union’s Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No 891124. We are also grateful for the comments of seminar audiences at NEAT (Padova/Venice) and the Barcelona BSE forumes
dc.identifier.urihttps://hdl.handle.net/10016/35968
dc.identifier.uxxiDT/0000002024
dc.language.isoeng
dc.relation.projectIDinfo:eu-repo/grantAgreement/EC/H2020/891124en
dc.relation.projectIDGobierno de España. PID2021-126200NB-I00
dc.rightsAtribución 3.0 España*
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/es/*
dc.subject.ecienciaEconomíaes
dc.subject.ecienciaMedio Ambientees
dc.titleNorms and the evolution of leaders' followershipen
dc.typeworking paper*
dspace.entity.typePublication
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