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results in finite games. It is shown that they do for a class of finite games with weak learning provided that limits are …
Persistent link: https://www.econbiz.de/10005047749
This paper uses the theory of large deviations to analyse equilibrium selection in one-dimensional games with large …
Persistent link: https://www.econbiz.de/10005047894
all players use this rule it eliminates iteratively dominated strategies and in two-person constant-sum games average … payoffs converge to the value of the game. Strategies converge in constant-sum games with unique equilibria if they are pure … or in 2 × 2 games also if they are mixed. The long-run behaviour of the learning rule is governed by equations related to …
Persistent link: https://www.econbiz.de/10011166126
It is commonly asserted that such problems as inner-city traffic congestion and pollution can be understood as examples of the Prisoner`s Dilemma Game (PD), but there is a dearth of empirical research that tests this assertion. 587 car owners in Oxford City were presented with three pairs of...
Persistent link: https://www.econbiz.de/10010605260
This paper studies games in which the players are not locked into their relationship for a fixed number of periods. We … consider two-player games where player 1 can decide to let the opponent continue in the game or replace it with a new player …
Persistent link: https://www.econbiz.de/10005090638
concepts. In coordination games, the interval of preference biases supporting the Pareto-dominant equilibrium is Lyapunov … Kandori and Rob`s (Games and Economic Behavior 22, 1998, 30-60) marginal bandwagon property, meanwhile, an interval of biases …
Persistent link: https://www.econbiz.de/10005047850
Evolutionary game theory has largely focused on finite games. Dynamic stability is harder to attain in infinite …
Persistent link: https://www.econbiz.de/10005051061
In a collective-action game a player`s payoff is the sum of (i) a private component that depends only on that player`s action, and (ii) a public component, common to all players and dependent upon all actions. A classic application is the private provision of a public good. Play evolves:...
Persistent link: https://www.econbiz.de/10005090646
The volunteer`s dilemma is an asymmetric n-player binary-action game in which a public good is provided if and only if at least one player volunteers, and consequently bears some private cost. So long as the value generated for every player exceeds this private cost there are n pure-strategy...
Persistent link: https://www.econbiz.de/10005047810
During the Bretton Woods era, OECD countries grew at historically unprecedented rates. This Golden Age has many possible explanations, ranging from the return to liberal policies in international trade to a backlog of profitable growth opportunities after the neglect of the 1930s and war-time...
Persistent link: https://www.econbiz.de/10004977878