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size. -- Bounded rationality ; Evolutionary game theory ; Imitation ; Better replies ; Markov chain ; Stochastic stability …
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, Int. J. Game Theory 18, 273-292), choice probabilities are related to the determination of leveling taxes. The set of t …-solutions coincides with the set of Nash equilibria of a game with quadratic control costs. Increasing the rationality of the players …
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intermediate learning rules hinges critically on a parameter of the model and the relative payoffs. -- Bounded rationality … ; Evolutionary game theory ; Evolutionary Stability ; Learning in games ; Belief learning ; Reinforcement learning …
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This paper studies a class of Markov models which consist of two components. Typically, one of the components is observable and the other is unobservable or 'hidden'. Conditions under which (a form of) geometric ergodicity of the unobservable component is inherited by the joint process formed of...
Persistent link: https://www.econbiz.de/10002465203
In Young (1993, 1998) agents are recurrently matched to play a finite game and almost always play a myopic best reply to a frequency distribution based on a sample from the recent history of play. He proves that in a generic class of finite n-player games, as the mutation rate tends to zero,...
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