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In this survey article, we report results on the existence of pure-strategy Nash equilibria in games with an atomless continuum of players, each with an action set that is not necessarily finite. We also discuss purification and symmetrization of mixed-strategy Nash equilibria, and settings in...
Persistent link: https://www.econbiz.de/10005776497
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We consider four models of evolution and learning in games which rely on perturbations of payoffs, including stochastic fictitious play. In all cases, we establish global stability results for zerosum games, games with an interior ESS, potential games, and supermodular games.
Persistent link: https://www.econbiz.de/10005623027
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This paper considers the dynamic evolution of algorithmic (recursive) learning rules in a normal form game. It is shown that the system - the population frequencies - is globally stable for any arbitrary N-player normal form game, if the evolutionary process is algorithmic and the "birth...
Persistent link: https://www.econbiz.de/10005816361
The industrialization process of a country is often plagued by a failure to coordinate investment decisions. Using the Global Games approach we can solve this coordination problem and eliminate the problem of multiple equilibria. We show how appropriate information provision enhances efficiency....
Persistent link: https://www.econbiz.de/10005739668
We show that there exist von Neumann-Morgenstern (vN-M) stable sets in a n-player version of the prisoners' dilemma game with preplay negotiations in which every player can deviate unilaterally from the currently proposed combination of actions but can not do so jointly with other players, and...
Persistent link: https://www.econbiz.de/10005755794
This paper consider the dynamic evolution of algorithmic (recursive) learning rules in a normal form game. It is shown that the system - the population frequencies - is globally stable for any arbitrary N-player normal form game, if the evolutionary process is algorithmic and the `birth process'...
Persistent link: https://www.econbiz.de/10005550961
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