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Persistent link: https://www.econbiz.de/10003819570
We study the effect of stochastically delayed communication on common knowledge acquisition (common learning). If messages do not report dispatch times, communication prevents common learning under general conditions even if common knowledge is acquired without communication. If messages report...
Persistent link: https://www.econbiz.de/10003922240
Persistent link: https://www.econbiz.de/10009243004
We study learning in a large class of complete information normal form games. Players continually face new strategic situations and must form beliefs by extrapolation from similar past situations. We characterize the long-run outcomes of learning in terms of iterated dominance in a related...
Persistent link: https://www.econbiz.de/10011700119