Once beaten, never again: Imitation in two-player potential games

We show that in symmetric two-player exact potential games, the simple decision rule imitate-if-better cannot be beaten by any strategy in a repeated game by more than the maximal payoff difference of the one-period game. Our results apply to many interesting games including examples like 2x2 games, Cournot duopoly, price competition, public goods games, common pool resource games, and minimum effort coordination games.

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Year of publication:	2011
Authors:	Duersch, Peter ; Oechssler, Joerg ; Schipper, Burkhard C.
Publisher:	Davis, CA : University of California, Department of Economics
Subject:	imitate-the-best \| learning \| exact potential games \| symmetric games \| relative payoffs \| zero-sum games

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Series:	Working Paper ; 11-12
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	717283208 [GVK] hdl:10419/58356 [Handle]
Classification:	C72 - Noncooperative Games ; C73 - Stochastic and Dynamic Games ; D43 - Oligopoly and Other Forms of Market Imperfection
Source:	EconStor

Persistent link: https://www.econbiz.de/10010282072