# Non-equilibrium time-dependent solution to discrete choice with social interactions

@article{Holehouse2021NonequilibriumTS, title={Non-equilibrium time-dependent solution to discrete choice with social interactions}, author={James Holehouse and Hector Pollitt}, journal={PLoS ONE}, year={2021}, volume={17} }

We solve the binary decision model of Brock and Durlauf (2001) in time using a method reliant on the resolvent of the master operator of the stochastic process. Our solution is valid when not at equilibrium and can be used to exemplify path-dependent behaviours of the binary decision model. The solution is computationally fast and is indistinguishable from Monte Carlo simulation. Well-known metastable effects are observed in regions of the model’s parameter space where agent rationality is…

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