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Persistent link: https://www.econbiz.de/10003631993
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The paper studies a game of common interest played infinitely many times between two players, one being aspiration driven while the other being a myopic optimizer. It is shown that the only two long run stationary outcomes are the two static equilibrium points. Robustness of long run behavior is...
Persistent link: https://www.econbiz.de/10004977742
The paper studies an evolutionary model where players from a given population are randomly matched in pairs each period to play a coordination game. At each instant, a player can choose to adopt one of the two possible behavior rules, called the rational rule and the aspiring rule, and then take...
Persistent link: https://www.econbiz.de/10014222645