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We investigate games whose Nash equilibria are mixed and are unstable under fictitious play-like learning processes. We show that when players learn using weighted stochastic fictitious play and so place greater weight on more recent experience that the time average of play often converges in...
Persistent link: https://www.econbiz.de/10005369088
of the standard model which do not respond to changes in supply or demand. Despite incomplete information, equilibrium …
Persistent link: https://www.econbiz.de/10005750729
We report experiments designed to test between Nash equilibria that are stable and unstable under learning. The “TASP …
Persistent link: https://www.econbiz.de/10005750758
Persistent link: https://www.econbiz.de/10002201189
Persistent link: https://www.econbiz.de/10001625855