Showing 1 - 10 of 23
in games with strategic substitutes or strategic complements the optimal control strategy is monotone in the initial … action of the opponent, in time periods, and in the discount rate. As an interesting example outside this class of games we …
Persistent link: https://www.econbiz.de/10008914730
We show that in symmetric two-player exact potential games, the simple decision rule "imitate-if-better" cannot be … apply to many interesting games including examples like 2x2 games, Cournot duopoly, price competition, public goods games …, common pool resource games, and minimum effort coordination games. …
Persistent link: https://www.econbiz.de/10009393265
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 … in this class is essentially unbeatable in exact potential games. Our results apply to many interesting games including …
Persistent link: https://www.econbiz.de/10010993382
We show that for many classes of symmetric two-player games, the simple decision rule ``imitate-if-better'' can hardly … potential game or a quasiconcave game. Our results apply to many interesting examples of symmetric games including 2 x 2 games …, Cournot duopoly, price competition, public goods games, common pool resource games, and minimum effort coordination games. …
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 … in this class is essentially unbeatable in exact potential games. Our results apply to many interesting games including …
Persistent link: https://www.econbiz.de/10010826387
We present a formal model of symmetric n-firm Cournot oligopoly with a heterogeneous population of profit optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round a la Vega-Redondo (1997). Optimizers play myopic best response to the...
Persistent link: https://www.econbiz.de/10004968446
Equilibrium notions for games with unawareness in the literature cannot be interpreted as steady-states of a learning … process because players may discover novel actions during play. In this sense, many games with unawareness are ''self … interpreted as steady-state of both a discovery and learning process. …
Persistent link: https://www.econbiz.de/10012655887
Persistent link: https://www.econbiz.de/10008515308
number of standard learning algorithms. The learning theories are (unbeknown to subjects) a best response process, fictitious … play, imitation, reinforcement learning, and a trial & error process. We test whether subjects try to influence those … and that all learning algorithms are subject to exploitation with the notable exception of imitation. The experiment was …
Persistent link: https://www.econbiz.de/10005407609
Recently there has been much theoretical and experimental work on learning in games. However, learning usually means … learning about the strategic behavior of opponents rather than learning about the game as such. In contrast, here we report on …
Persistent link: https://www.econbiz.de/10011539825