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Monotone methods for equilibrium selection under perfect foresight dynamics

Oyama, Daisuke; Takahashi, Satoru; Hofbauer, Josef - In: Theoretical economics : TE ; an open access journal in … 3 (2008) 2, pp. 155-192

This paper studies a dynamic adjustment process in a large society of forward-looking agents where payoffs are given by a normal form supermodular game. The stationary states of the dynamics correspond to the Nash equilibria of the stage game. It is shown that if the stage game has a monotone...

Persistent link: https://www.econbiz.de/10011700407

Robust Predictions in Games with Incomplete Information

Bergemann, Dirk; Morris, Stephen - 2011

We analyze games of incomplete information and offer equilibrium predictions which are valid for, and in this sense robust to, all possible private information structures that the agents may have. We completely characterize the set of Bayes correlated equilibria in a class of games with...

Persistent link: https://www.econbiz.de/10014175012

Robust Predictions in Games with Incomplete Information

Bergemann, Dirk; Morris, Stephen - 2011

We analyze games of incomplete information and offer equilibrium predictions which are valid for all possible private information structures that the agents may have. Our characterization of these robust predictions relies on an epistemic result which establishes a relationship between the set...

Persistent link: https://www.econbiz.de/10014177259

Robust Predictions in Games with Incomplete Information

Bergemann, Dirk - 2012

Persistent link: https://www.econbiz.de/10013099192

Robust Predictions in Games with Incomplete Information

Bergemann, Dirk - 2013

We analyze games of incomplete information and offer equilibrium predictions which are valid for, and in this sense robust to, all possible private information structures that the agents may have. The set of outcomes that can arise in equilibrium for some information structure is equal to the...

Persistent link: https://www.econbiz.de/10013084975

Grand Canonical Minority Game as a Sign Predictor

Wawrzyniak, Karol - 2014

In this paper the extended model of Minority game (MG), incorporating variable number of agents and therefore called Grand Canonical, is used for prediction. We proved that the best MG-based predictor is constituted by a tremendously degenerated system, when only one agent is involved. The...

Persistent link: https://www.econbiz.de/10013059395

Forecast Dispersion in Finite-Player Forecasting Games

Kim, Jin Yeub - 2017

We study forecast dispersion in a finite-player forecasting game modeled as an aggregate game with payoff externalities … forecast from the average forecast; and with a finite number of agents, the agents can strategically in influence that average … find that when each agent prefers to be close to the average forecast, the presence of strategic manipulation of the …

Persistent link: https://www.econbiz.de/10012972639

Chapter 62 Game theory and experimental gaming

Shubik, Martin - In: Handbook of game theory with economic applications : …, (pp. 2327-2351). 2002

This is a survey and discussion of work covering both formal game theory and experimental gaming prior to 1991. It is a useful preliminary introduction to the considerable change and emphasis which has taken place since that time where dynamics, learning, and local optimization have challenged...

Persistent link: https://www.econbiz.de/10014024483

The El Farol problem revisited

Böhm, Volker - 2015

(1994) argues that persistent on-converging sequences of rates of participation with permanent forecasting errors occur due … to the non-existence of a prediction model for agents to forecast the attendance appropriately to induce stable rational …

Persistent link: https://www.econbiz.de/10010487597

Group selection and social preferences

Weibull, Jörgen (contributor); … - 2005 - [Elektronische Ressource], Rev. September 27, 2005

A large number of individuals are randomly matched into groups, where each group plays a finite symmetric game. Individuals breed true. The expected number of surviving offspring depends on own material payoff, but may also, due to cooperative breeding and/or reproductive competition, depend on...

Persistent link: https://www.econbiz.de/10002609559