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We study economic environments in which agents make choices on the basis of relative performance criteria and call the associated class of dynamic adjustment rules "comparative dynamics". We distinguish two classes of learning behavior: learning from the population experience (imitative...
Persistent link: https://www.econbiz.de/10005400550
In this paper, the authors develop a model of strategic behavior in continuous time games of complete information, which includes conventional repeated games in discrete time as a special case. The model developed here admits a very large class of strategies that allows one to extend the...
Persistent link: https://www.econbiz.de/10005124796