Multiple Equilibria and Bootstrapping Performance
Sometimes esteem (or disesteem) is assigned by reference not to quality of performance but rather to whether the actor has acted in accordance with some norm. Feedback effects can arise in this case as well, because the amount of esteem/disesteem assigned for compliance/non-compliance is likely to be a function of the number of conformers. Equilibrium analysis is undertaken for this case. A distinctive feature is that there are likely to be two possible stable equilibria: one a positive esteem, low-compliance equilibrium and the other a disesteem, high compliance equilibrium. The multiple equilibria property raises the question of ‘boot strapping’ from the lower to the higher equilibrium. We investigate that possibility in the context of a more general comparative static analysis.
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