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A strategy profile of a game is called robustly stochastically stable if it is stochastically stable for a given behavioral model independently of the specification of revision opportunities and tie-breaking assumptions in the dynamics. We provide a simple radius-coradius result for robust...
Persistent link: https://www.econbiz.de/10010316846
This paper considers bounded-memory players in a coordination game, who imitate the most successful remembered actions. With exogenous inertia, risk-dominant equilibria are selected independently of the length of memory. Without inertia, Pareto-dominant equilibria arise when memory is long enough.
Persistent link: https://www.econbiz.de/10009471709
Bergin and Lipman (1996) show that the refinement effect from the random mutations in the adaptive dynamics in Kandori …
Persistent link: https://www.econbiz.de/10010334690
A strategy profile of a game is called robustly stochastically stable if it is stochastically stable for a given behavioral model independently of the specification of revision opportunities and tie-breaking assumptions in the dynamics. We provide a simple radius-coradius result for robust...
Persistent link: https://www.econbiz.de/10011282462
that we intend to develop, in order to highlight the mutations that occurred in the foodstuff quality perception of the new …
Persistent link: https://www.econbiz.de/10011724769
In this paper, we analyze the long run dynamics of a multi-agent game played on a one-dimensional lattice with periodic boundary conditions, i.e., a ring. Agents repeatedly play a 2 × 2 coordination game with neighbors where the payoff dominant action and the risk dominant action are distinct....
Persistent link: https://www.econbiz.de/10013200092
that we intend to develop, in order to highlight the mutations that occurred in the foodstuff quality perception of the new …
Persistent link: https://www.econbiz.de/10009367457
This paper demonstrates that inertia driven by switching costs leads to more rapid evolution in a class of games that includes m x m pure coordination games. Under the best-response dynamic and a fixed rate of mutation, the expected waiting time to reach long-run equilibrium is of lower order in...
Persistent link: https://www.econbiz.de/10005047778
Bergin and Lipman (1996) show that the refinement effect from the random mutations in the adaptive dynamics in Kandori …
Persistent link: https://www.econbiz.de/10005645419
The economic, political, social, cultural, technological, etc. changes the XXI-st century is facing trigger modifications at the level of the economy, society, organization and of the management of this one. Such transformations result in the appearance of new trends at the international level,...
Persistent link: https://www.econbiz.de/10009350644