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local interactions. Amongst others, we discuss best reply learning in a global- and in a local- interaction framework and … best reply learning in multiple location models and in a network formation context. Further, we discuss imitation learning …
Persistent link: https://www.econbiz.de/10008756384
We consider minimum-effort games played in an arbitrary network. For a family of imitation behavioral rules, including Imitate the Best and the Proportional Imitation Rule, we show that inefficient conventions arise independently of the interaction structure, if information is limited to the...
Persistent link: https://www.econbiz.de/10011049738
We revisit a result by Kim and Wong (2010) showing that under global interactions any strict Nash equilibrium of a coordination game can be supported as long run equilibrium by properly adding dominated strategies. We show that in the circular city model of local interactions and in the torus...
Persistent link: https://www.econbiz.de/10011049774
network strategy and belief. The learning is modelled as an evolving network process i.e. a local network of agents, with non …
Persistent link: https://www.econbiz.de/10005345265
We study the convergence properties of learning in social and economic networks. We characterize the effect of network … result is that the most efficient network topologies for faster convergence or learning are those where agents belong to … hence slow learning. …
Persistent link: https://www.econbiz.de/10010712123
We study the Fictitious Play process with bounded and unbounded recall in pure coordination games for which failing to coordinate yields a payoff of zero for both players. It is shown that every Fictitious Play player with bounded recall may fail to coordinate against his own type. On the other...
Persistent link: https://www.econbiz.de/10004968208
We consider a co-evolutionary model of social coordination and network formation where agents may decide on an action in a 2×2-coordination game and on whom to establish costly links to. We find that if agents may only support a limited number of links payoff dominant conventions will emerge in...
Persistent link: https://www.econbiz.de/10011042966
Persistent link: https://www.econbiz.de/10005711664
. Learning, mutation, and long run equilibria in games. Econometrica 61, 29–56], where agents follow best-response decision rules …
Persistent link: https://www.econbiz.de/10008725917
In this paper, we provide a theoretical prediction of the way in which adaptive players behave in the long run in normal form games with strict Nash equilibria. In the model, each player assigns subjective payoff assessments to his own actions, where the assessment of each action is a weighted...
Persistent link: https://www.econbiz.de/10010711826