Showing 1 - 10 of 1,926
In this paper we study the configuration dynamics and the societal equilibrium selection of repeated lattice games. Each player plays games only with his immediate neighbors hence indirectly interacts with everyone else. A player may or may not have perfect control over his action. Different...
Persistent link: https://www.econbiz.de/10014178100
In this paper we investigate how cognitive ability influences behavior, success and the evolution of play towards Nash equilibrium in repeated strategic interactions. We study behavior in a p-beauty contest experiment and find striking differences according to cognitive ability: more cognitively...
Persistent link: https://www.econbiz.de/10014041000
We present an algorithm to compute the set of perfect public equilibrium payoffs as the discount factor tends to one for stochastic games with observable states and public (but not necessarily perfect) monitoring when the limiting set of (long-run players') equilibrium payoffs is independent of...
Persistent link: https://www.econbiz.de/10014045865
This article considers the robustness of long run equilibria when mutation rates are not assumed to be constant over time. Particular attention is paid to the case where mutation rates decline to zero in the limit. It is found that if behaviour is ergodic, then it corresponds to the long run...
Persistent link: https://www.econbiz.de/10014198625
We study perfect information games with an infinite horizon played by an arbitrary number of players. This class of games includes infinitely repeated perfect information games, repeated games with asynchronous moves, games with long and short run players, games with overlapping generations of...
Persistent link: https://www.econbiz.de/10014204654
We examine contemporaneous perfect equilibria, in which a player's actions after every history, evaluated at the point of deviation from the equilibrium, must be within of a best response. This concept implies, but is not implied by Radner's ex ante perfect equilibrium. A strategy profile is a...
Persistent link: https://www.econbiz.de/10014118720
We introduce a framework for analyzing Bertrand-Edgeworth equilibria in finite Arrow-Debreu exchange economies. A key feature is the way trade takes place. There are two main stages. In the first stage agents simultaneously choose prices and quantities of commodities they want to sell; in the...
Persistent link: https://www.econbiz.de/10014078305
dsGameSolver is based on the homotopy method developed in Eibelshaeuser and Poensgen (2019). It is the first program capable of computing a Markov perfect equilibrium of any finite dynamic stochastic game -- subject to the usual restrictions on numerical accuracy and working memory. dsGameSolver...
Persistent link: https://www.econbiz.de/10014108871
This paper considers the existence and computation of Markov perfect equilibria in games with a "monotone" structure. Specifically, it provides a constructive proof of the existence of Markov perfect equilibria for a class of games in which a) there is a continuum of players, b) each player has...
Persistent link: https://www.econbiz.de/10014141762
This paper characterizes an equilibrium payoff subset for dynamic Bayesian games as discounting vanishes. Monitoring is imperfect, transitions may depend on actions, types may be correlated and values may be interdependent. The focus is on equilibria in which players report truthfully. The...
Persistent link: https://www.econbiz.de/10013029918