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• W2798468614 abstract "What is the emergent long-run equilibrium of a society where many interacting agents bet on the optimal energy to put in place in order to climb on the Bandwagon? In this paper we study the collective behavior of a large population of agents being either Left or Right: the core idea is that agents benefit from being with the winner party, but, on the other hand, they suffer a cost in changing their status quo. At the microscopic level the model is formulated as a stochastic, symmetric dynamic game with $N$ players. In the macroscopic limit as $N rightarrow +infty$, we obtain a mean field game whose equilibria describe the rational collective behavior of the society. It is of particular interest to detect the emerging long-time attractors, e.g. consensus or oscillating behavior. Significantly, we discover that bandwagoning can be persistent at the macro level: endogenously generated periodicity is in fact detected." @default.
• W2798468614 created "2018-05-07" @default.
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• W2798468614 date "2018-04-20" @default.
• W2798468614 modified "2023-09-27" @default.
• W2798468614 title "Climb on the Bandwagon: Consensus and periodicity in a lifetime utility model with strategic interactions" @default.
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