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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Changing places—the role of heterogeneity and externalities in cumulative processes |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | International Journal of Industrial Organization |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0167-7187 |
| Volume | 16 |
| Number | 4 |
| Page Range | 445 - 461 |
| Date | 1998 |
| Abstract Text | We consider a simple class of dynamic games. A continuum of players chooses between two actions (“locations”) in each period; per-period payoffs depend positively on the number of players choosing the same action. The resulting dynamics are investigated. If one location receives a favorable shock, the effects of the strength of externalities and the heterogeneity of the population on the extent of adjustment may be non-monotone and discontinuous, due to two competing effects. With stronger externalities (lower heterogeneity), less players move initially, but more players follow once the process has gained momentum. |
| Digital Object Identifier | 10.1016/S0167-7187(96)01059-4 |
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