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This paper studies fictitious play in networks of noncooperative two-player games. We show that continuous …/T , regardless of the size of the network. In contrast, arbitrary n-player zero-sum games do not possess the fictitious …-play property. As an extension, we consider networks in which each bilateral game is strategically zero-sum, a weighted potential …
Persistent link: https://www.econbiz.de/10011571263
This paper studies fictitious play in networks of noncooperative two-person games. We show that continuous … convergence is 1/T, regardless of the size of the network. In contrast, arbitrary n-person zero-sum games with bilinear payoff … functions do not possess the continuous-time fictitious-play property. As extensions, we consider networks in which each …
Persistent link: https://www.econbiz.de/10012026511
This paper studies fictitious play in networks of noncooperative two-player games. We show that continuous …/T , regardless of the size of the network. In contrast, arbitrary n-player zero-sum games do not possess the fictitious …-play property. As an extension, we consider networks in which each bilateral game is strategically zero-sum, a weighted potential …
Persistent link: https://www.econbiz.de/10011663198
Persistent link: https://www.econbiz.de/10012430722
I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning, an agent's payoff depends both on the state and...
Persistent link: https://www.econbiz.de/10012900928
I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning, an agent's payoff depends both on the state and...
Persistent link: https://www.econbiz.de/10012022731
This paper studies fictitious play in networks of noncooperative two-person games. We show that continuous … convergence is 1/T, regardless of the size of the network. In contrast, arbitrary n-person zero-sum games with bilinear payoff … functions do not possess the continuous-time fictitious-play property. As extensions, we consider networks in which each …
Persistent link: https://www.econbiz.de/10012902571
The novelty of our model is to combine models of collective action on networks with models of social learning. Agents … are connected according to an undirected graph, the social network, and have the choice between two actions: either to … network. (2) Average inclination governs collective adoption behavior. (3) Initial inclinations determine the critical mass of …
Persistent link: https://www.econbiz.de/10013061677
equilibrium networks are nested split graphs. Additionally, we show that the game is a potential game, even when we introduce …
Persistent link: https://www.econbiz.de/10012591497
We study equilibrium behavior in incomplete‐information games under two information constraints: seeds and spillovers. The former restricts which agents can initially receive information. The latter specifies how this information spills over to other agents. Our main result characterizes the...
Persistent link: https://www.econbiz.de/10015415279