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In a collective-action game a player`s payoff is the sum of (i) a private component that depends only on that player`s action, and (ii) a public component, common to all players and dependent upon all actions. A classic application is the private provision of a public good. Play evolves:...
Persistent link: https://www.econbiz.de/10005090646
A public good is produced if and only if a team of m or more volunteers contribute to it. An equilibrium-selection problem leads to the questions: will collective action succeed? If so, who will participate in the team? The paper studies the evolution of collective action: as part of a...
Persistent link: https://www.econbiz.de/10005090676
A finite population of agents playing a 2 x 2 symmetric game evolves by adaptive best response. The assumption that players make mistakes is dropped in favor of one where players differ, via payoff heterogeneity. Arbitrary mutations are thus replaced with an economically justified specification....
Persistent link: https://www.econbiz.de/10005636462
Team formation will often involve a coordination problem. If no-one else is contributing to a team, there is little point in an agent exerting any effort. Similarly, once a team is formed, an agent within the team will not leave, as to do so would result in team collapse; non-contributing agents...
Persistent link: https://www.econbiz.de/10005051161
This paper studies collective-action games in which the production of a public good requires teamwork. A leading example is a threshold game in which provision requires the voluntary participation of "m "out of "n "players. Quantal-response strategy revisions allow play to move between...
Persistent link: https://www.econbiz.de/10005312850
This paper studies collective-action games in which the production of a public good requires teamwork. A leading example is a threshold game in which provision requires the voluntary participation of m out of n players. Quantal-response strategy revisions allow play to move between equilibria in...
Persistent link: https://www.econbiz.de/10010638073
The payoffs of a symmetric 2x2 coordination game are perturbed by agent-specific heterogeneity. Individuals observe a (possibly sampled) history of play, which forms the initial hypothesis for an opponents behaviour. Seeding beliefs in this manner, they iteratively reason toward a Bayesian Nash...
Persistent link: https://www.econbiz.de/10010604852
A rational player will never play a strictly dominated strategy. It might be tempting therefore to eliminate such strategies from any subsequent analysis. However, if equilibrium selection is an issue it may be wrong to do so. In models of adaptive learning with state-independence mutations,...
Persistent link: https://www.econbiz.de/10010604857
A strategy revision process in symmetric normal form games is proposed. Following Kandori, Mailath, and Rob (1993), members of a population periodically revise their strategy choice, and choose a myopic best response to currently observed play. Their payoffs are perturbed by normally distributed...
Persistent link: https://www.econbiz.de/10010604996
Equilibrium selection in coordination games has generated a large literature. Kandori, Mailath and Rob (1993) and Young (1993) studied dynamic models of aggregate behaviour in which agents choose best responses to observations of population play. Crucially, infrequent mistakes (`mutations`)...
Persistent link: https://www.econbiz.de/10010605025