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We analyze the problem of coordinating upon asymmetric equilibria in a symmetric game, such as the battle-of-the-sexes. In repeated interaction, asymmetric coordination is possible possible via symmetric repeated game strategies. This requires that players randomize initially and adopt a...
Persistent link: https://www.econbiz.de/10005407601
Using insights from the theory of projective geometry one can prove convergence of continuous fictitious play in a certain class of games. As a corollary, we obtain a kind of equilibrium selection result, whereby continuous fictitious play converges to a particular equilibrium contained in a...
Persistent link: https://www.econbiz.de/10005062342
We develop a general model of best response adaptation in large populations for symmetric and asymmetric conflicts with role-switching. For special cases including the classical best response dynamics and the symmetrized best response dynamics we show that the set of Nash equilibria is...
Persistent link: https://www.econbiz.de/10005062353
possible in some cases. However, once consumer learning is introduced, the monopoly outcome first found by Diamond (1971) is …
Persistent link: https://www.econbiz.de/10005118556
The model of a non-Bayesian agent who faces a repeated game with incomplete informationagainst Nature is an appropriate tool for modeling general agent- environment interactions. In such a modelthe environment state (controlled by Nature) may change arbitrarily and the reward function is...
Persistent link: https://www.econbiz.de/10005062380
This paper aims at analysing the effects of learning on the individual behaviour in an experiment that requires … apply them also in other situations) and propose new hypothesis. Learning is not only based on a mechanical repetition of …
Persistent link: https://www.econbiz.de/10005407620