Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/184791
Authors: 
Panebianco, Fabrizio
Prummer, Anja
Siedlarek, Jan-Peter
Year of Publication: 
2017
Series/Report no.: 
Working Paper 840
Abstract: 
We highlight that convergence in repeated averaging models commonly used to study cultural traits or opinion dynamics is not equivalent to convergence in Markov chain settings if transition matrices are time-varying. We then establish a new proof for the convergence of cultural traits in the model of Panebianco (2014) correcting the existing proof. The new proof provides novel insights on the long-run outcomes for inessential individuals. We close with a discussion of conditions for convergence in repeated averaging models with time-varying transition matrices.
Subjects: 
Cultural transmission
Continuous cultural traits
Social networks
Opinion dynamics
JEL: 
D83
D85
Z13
Document Type: 
Working Paper
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