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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/10010240826
We consider a co-evolutionary model of social coordination and network formation where agents may decide on an action in a 2x2 - coordination game and on whom to establish costly links to. We find that a payoff dominant convention is selected for a wider parameter range when agents may only...
Persistent link: https://www.econbiz.de/10010341151
are rare. Thus, even in a world of simple learning agents, coordination behavior can take on some surprising forms. …
Persistent link: https://www.econbiz.de/10011515836
This paper develops a theoretical model based on theories of equilibrium selection in order to predict success rates in threshold public goods games, i.e., the probability with which a group of players provides enough contribution in sum to exceed a predefined threshold value. For this purpose,...
Persistent link: https://www.econbiz.de/10011285443
multiplex network who deal with coordination issues using social learning and payoff-driven dynamics. Agents form their … heterogeneous preference through learning on one layer and they play a pure coordination game on the other layer. People learn from …. We find that the presence of the social learning mechanism explains the rising and the endurance of a segregated society …
Persistent link: https://www.econbiz.de/10012062102
suggests a trade-off of using coarser versus finer representations of the strategy set when it comes to learning. …
Persistent link: https://www.econbiz.de/10012602347
suggests a trade-off of using coarser versus finer representations of the strategy set when it comes to learning. …
Persistent link: https://www.econbiz.de/10012608716
makers. We ask whether there exist "full learning'' equilibria - ones in which the players' posterior beliefs eventually …. Surprisingly, in the latter case full learning may be impossible even in the limit as all players become infinitely patient. We …. In this case full learning equilibria exist …
Persistent link: https://www.econbiz.de/10014220427
Persistent link: https://www.econbiz.de/10013186579
learning process of individuals with different preference types (more and less pro-social) and coarse information regarding the …
Persistent link: https://www.econbiz.de/10011326679