This paper examines equilibrioum and stability in symmetric two-player cheap-talk games. In particular, we characterize the set of neutrally stable outcomes in finite cheap-talk 2x2 coordination games.

In the models of Young (1993a,b), boundedly rational indivudals are recurrently matched to play myopic best replies to the recent history of play. It could therefore be an advantage to instead play a myopic best reply tthe myopic best reply, something boundedly rational players might conceivably...

This paper provides deterministic approximation results for stochastic processes that arise when finite populations of boundedly rational agents recurrently play finite games. The deterministic approximation is defined in continuous time in terms of a system of ordinary differential equations of...