Showing 1 - 8 of 8
We describe the large deviations properties, stationary distribution asymptotics, and stochastically stable states of stochastic evolutionary processes based on the logit choice rule, focusing on behavior in the small noise double limit. These aspects of the stochastic evolutionary process can...
Persistent link: https://www.econbiz.de/10010352822
We consider a model of stochastic evolution under general noisy best response protocols, allowing the probabilities of suboptimal choices to depend on their payoff consequences. Our analysis focuses on behavior in the small noise double limit: we first take the noise level in agents' decisions...
Persistent link: https://www.econbiz.de/10010352830
This note contains complementary information to the paper Staudigl and Steg (2014). We present a martingale characterization of continuation payoff processes in a class of repeated games with imperfect public monitoring. Our martingale approach allows us to work out a clear connection between...
Persistent link: https://www.econbiz.de/10010427180
Motivated by recent path-breaking contributions in the theory of repeated games in continuous time, this paper presents a family of discrete-time games which provides a consistent discrete-time approximation of the continuous-time limit game. Using probabilistic arguments, we prove that...
Persistent link: https://www.econbiz.de/10010427192
We study the structure of pairwise stable networks from a very general point. Rather than assuming a particular functional form of utility, we simply assume that the society is homogeneous, i.e. that agents' utilities differ only with respect to their network position while their names do not...
Persistent link: https://www.econbiz.de/10010427185
Increasing concerns about climate change have given rise to the formation of International Environmental Agreements (IEAs) as a possible solution to limit global pollution effects. In this paper, we study the stability of IEAs in a repeated game framework where we restrict to strategies which...
Persistent link: https://www.econbiz.de/10011348264
We study a model of transmission of continuous cultural traits across generations where children learn their cultural trait from their parents and their social environment modeled by a network. Parents can engage in the socialization process of their children by biasing links in the network in...
Persistent link: https://www.econbiz.de/10011806890
We study investments in R&D and the formation of R&D clusters of firms which are competitors in the market. In a three stage game, firms first decide on long-term R&D investment, then form research clusters according to the unanimity game introduced in Bloch(1995), and finally compete in...
Persistent link: https://www.econbiz.de/10011582521