Showing 1 - 10 of 99
We study a class of population games called stable games. These games are characterized by self-defeating externalities: when agents revise their strategies, the improvements in the payoffs of strategies to which revising agents are switching are always exceeded by the improvements in the...
Persistent link: https://www.econbiz.de/10005005901
We establish global convergence results for stochastic fictitious play for four classes of games: games with an interior ESS, zero sum games, potential games, and supermodular games. We do so by appealing to techniques from stochastic approximation theory, which relate the limit behavior of a...
Persistent link: https://www.econbiz.de/10005332945
Persistent link: https://www.econbiz.de/10005112135
Persistent link: https://www.econbiz.de/10008309108
Persistent link: https://www.econbiz.de/10008850097
Persistent link: https://www.econbiz.de/10006765478
Persistent link: https://www.econbiz.de/10007617263
We investigate games whose Nash equilibria are mixed and are unstable under fictitious play-like learning processes. We show that when players learn using weighted stochastic fictitious play and so place greater weight on more recent experience that the time average of play often converges in...
Persistent link: https://www.econbiz.de/10005369088
Persistent link: https://www.econbiz.de/10005408630
Brown and von Neumann introduced a dynamical system that converges to saddle points of zero sum games with finitely many strategies. Nash used the mapping underlying these dynamics to prove existence of equilibria in general games. The resulting Brown-von Neumann-Nash dynamics are a benchmark...
Persistent link: https://www.econbiz.de/10005408827