There is increasing evidence that collective behavior, such as social choice, price dynamics, and strategic behavior, is related to nonlinear dynamics and thus has the potential for instability and complex behavior. This paper presents experimental results where subjects are placed in a...

There is increasing evidence that collective behavior, such as social choice, price dynamics, and strategic behavior, is related to nonlinear dynamics and thus has the potential for instability and complex behavior. This paper presents experimental results where subjects are placed in a...

An important puzzle in the study of complex systems is the conditions under which the aggregation of information from interacting agents results in a stable or an unstable collective outcome. We present a general framework for thinking about the stability and instability of collective outcomes...

This paper contributes to the recent focus on dynamics in noncooperative games when players use inductive learning. The most well-known inductive learning rule, Brown's fictitious play, is known to converge for $2 \times 2$ games, yet many examples exist where fictitious play reasoning fails to...