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The standard solution concept for stochastic games is Markov perfect equilibrium (MPE); however, its computation becomes intractable as the number of players increases. Instead, we consider mean field equilibrium (MFE) that has been popularized in the recent literature. MFE takes advantage of...
Persistent link: https://www.econbiz.de/10012001252
In repeated games, strategies are often evaluated by their ability to guarantee the performance of the single best action that is selected in hindsight (a property referred to as Hannan consistency, or no-regret). However, the effectiveness of the single best action as a yardstick to evaluate...
Persistent link: https://www.econbiz.de/10014264316