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We show that for many classes of symmetric two-player games, the simple decision rule "imitate-the-best" can hardly be beaten by any other decision rule. We provide necessary and sufficient conditions for imitation to be unbeatable and show that it can only be beaten by much in games that are of...
Persistent link: https://www.econbiz.de/10008615619
that, even against a very clever opponent, imitation is subject to a money pump if and only if the relative payoff function …
Persistent link: https://www.econbiz.de/10008620327
beaten by any strategy in a repeated game by more than the maximal payoff difference of the one-period game. Our results …
Persistent link: https://www.econbiz.de/10009393265
only if the relative payoff function of the game is of the rock–scissors–paper variety. We also show that a sufficient … condition for imitation not being subject to a money pump is that the relative payoff game is a generalized ordinal potential …
Persistent link: https://www.econbiz.de/10011049802
if and only if the relative payoff function of the game is of the rock-scissors-paper variety. We also show that a … sufficient condition for imitation not being subject to a money pump is that the relative payoff game is a generalized ordinal …
Persistent link: https://www.econbiz.de/10010826381
We characterize the class of symmetric two-player games in which tit-for-tat cannot be beaten even by very sophisticated opponents in a repeated game. It turns out to be the class of exact potential games. More generally, there is a class of simple imitation rules that includes tit-for-tat but...
Persistent link: https://www.econbiz.de/10010826387
beaten by any strategy in a repeated game by more than the maximal payoff difference of the one-period game. Our results …
Persistent link: https://www.econbiz.de/10011266100
two-player zero-sum games coincides with the class of relative payoff games associated with symmetric two-player games …
Persistent link: https://www.econbiz.de/10008619197
two-player zero-sum games coincides with the class of relative payoff games associated with symmetric two-player games …
Persistent link: https://www.econbiz.de/10008620446
We introduce several methods of decomposition for two player normal form games. Viewing the set of all games as a vector space, we exhibit explicit orthonormal bases for the subspaces of potential games, zero-sum games, and their orthogonal com- plements which we call anti-potential games and...
Persistent link: https://www.econbiz.de/10009364410