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Persistent link: https://www.econbiz.de/10010257904
Continuous-time game dynamics are typically first order systems where payoffs determine the growth rate of the playersʼ strategy shares. In this paper, we investigate what happens beyond first order by viewing payoffs as higher order forces of change, specifying e.g. the acceleration of the...
Persistent link: https://www.econbiz.de/10011043024
Using an explicit representation in terms of the logit map we show, in a unilateral framework, that the time average of the replicator dynamics is a perturbed solution of the best reply dynamics.
Persistent link: https://www.econbiz.de/10010707380
Individuals belonging to two large populations are repeatedly randomly matched to play a cyclic $2\times 2$ game such as Matching Pennies. Between matching rounds, individuals sometimes change their strategy after observing a finite sample of other outcomes within their population. Individuals...
Persistent link: https://www.econbiz.de/10005622500