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Table 1 Model parameters

From: Cheap talk communication with dynamic information searching

  

Base case

N

Number of informed agents

100

M

Number of uninformed agents

900

I

Percentage of honest informed agents

50

\(\Gamma\)

Number of uninformed agents with searching behavior

0, 10, 20, 30, 100, 300, 900

k

Number of neighbors of uninformed agents

2, 4, 6, 8, 10

P

Total number of periods

5000

\(m_p\)

Real states of information

U[0, 1]

\({x_{i,p}}\)

Pseudorandom integer

0, 1

b

An array of random numbers from a normal distribution

N[0, 1]

\(\gamma\)

Scalar parameter measuring accuracy of the information

0.1, 0.3, 0.5, 0.7, 0.9

\(\alpha\)

Rate of selected strategy adjustment

0.05

\(\beta\)

Rate of adjustment of expected payoff

0.9

\(\theta\)

Rate of trustworthiness adjustment

0.05