Showing 1 - 10 of 41
Population games describe strategic interactions among large numbers of small, anonymous agents. Behavior in these games is typically modeled dynamically, with agents occasionally receiving opportunities to switch strategies, basing their choices on simple myopic rules called revision protocols....
Persistent link: https://www.econbiz.de/10011255427
Using techniques from evolutionary game theory, we analyze potential games with continuous player sets, a class of games which includes a general model of network congestion as a special case. We concisely characterize both the complete set of Nash equilibria and the set of equilibria which are...
Persistent link: https://www.econbiz.de/10005252329
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We model externality abatement as an implementation problem. A social planner would like to ensure efficient behaviour among a group of agents whose actions are sources of externalities. However, the planner has limited information about the agents' preferences, and is unable to distinguish...
Persistent link: https://www.econbiz.de/10005312652
We establish global convergence results for stochastic fictitious play for four classes of games: games with an interior ESS, zero sum games, potential games, and supermodular games. We do so by appealing to techniques from stochastic approximation theory, which relate the limit behavior of a...
Persistent link: https://www.econbiz.de/10005332945
We present a dynamic analysis of the evolution of preferences in a strategic environment. In our model, each player's behavior depends upon both the game's payoffs and his idiosyncratic biases, but only the game's payoffs determine his evolutionary success. Dynamics run at two speeds at once:...
Persistent link: https://www.econbiz.de/10005085551
We prove that any regular ESS is asymptotically stable under any impartial pairwise comparison dynamic, including the Smith dynamic; under any separable excess payoff dynamic, including the BNN dynamic; and under the best response dynamic. Combined with existing results for imitative dynamics, our...
Persistent link: https://www.econbiz.de/10005014581
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We consider an implementation problem faced by a planner who manages a roadway network. The problem entails both hidden information and hidden actions. We solve the planner's problem by introducing a new class of mechanisms and a new notion of implementation. The mechanisms, called price...
Persistent link: https://www.econbiz.de/10010637891