Showing 1 - 3 of 3
We report the findings of an experiment designed to study how people learn and make decisions in network games. Network games offer new opportunities to identify learning rules, since on networks (compared to e.g. random matching) more rules differ in terms of their information requirements. Our...
Persistent link: https://www.econbiz.de/10011145661
Binmore and Samuelson (1999) have shown that perturbations (drift) are crucial to study the stability properties of Nash equilibria. We contribute to this literature by providing a behavioural foundation for models of evolutionary drift. In particular, this article introduces a microeconomic...
Persistent link: https://www.econbiz.de/10005121342
Drift appears to be crucial to study the stability properties of Nash equilibria in a component specifying different out-of-equilibrium behaviour. We propose a new microeconomic model of drift to be added to the learning process by which agents find their way to equilibrium. A key feature of the...
Persistent link: https://www.econbiz.de/10005187616