Traditional game theoretic analysis proposes backward induction as a model of rational behaviour in games with perfect …

We investigate games whose Nash equilibria are mixed and are unstable under fictitious play-like learning processes. We … experience that the time average of play often converges in these “unstable” games, even while mixed strategies and beliefs … continue to cycle. This time average is related to the best response cycle first identified by Shapley (1964). For many games …