Submitted:
30 April 2018
Posted:
02 May 2018
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Abstract
Many mathematical models of strategic play or better choice overlook adjustment costs. Rather often, the modeler's concern is just with improvement of objectives. This optic doesn't quite fit agents somewhat attached to status quo. They reason whether moving to another state be worth their while. For that, the realized gains must outweigh the inconveniences of the move. This note offers some observations on the fact that change usually entails cost.
Keywords:
adjustment costs
; proximal methods
; stationary states
; games
; equilibria
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