Showing 1 - 10 of 16,789
This paper studies fictitious play in networks of noncooperative two-player games. We show that continuous …/T , regardless of the size of the network. In contrast, arbitrary n-player zero-sum games do not possess the fictitious …-play property. As an extension, we consider networks in which each bilateral game is strategically zero-sum, a weighted potential …
Persistent link: https://www.econbiz.de/10011571263
Persistent link: https://www.econbiz.de/10012430722
I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning, an agent's payoff depends both on the state and...
Persistent link: https://www.econbiz.de/10012900928
I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning, an agent's payoff depends both on the state and...
Persistent link: https://www.econbiz.de/10012022731
This paper studies fictitious play in networks of noncooperative two-person games. We show that continuous … convergence is 1/T, regardless of the size of the network. In contrast, arbitrary n-person zero-sum games with bilinear payoff … functions do not possess the continuous-time fictitious-play property. As extensions, we consider networks in which each …
Persistent link: https://www.econbiz.de/10012902571
The novelty of our model is to combine models of collective action on networks with models of social learning. Agents … are connected according to an undirected graph, the social network, and have the choice between two actions: either to … network. (2) Average inclination governs collective adoption behavior. (3) Initial inclinations determine the critical mass of …
Persistent link: https://www.econbiz.de/10013061677
We report the findings of experiments designed to study how people learn in network games. Network games offer new … opportunities to identify learning rules, since on networks (compared to, e.g., random matching) more rules differ in terms of their … find that learning depends on network position. Participants in more complex environments (with more network neighbors …
Persistent link: https://www.econbiz.de/10011884406
social network - can influence our choices. These choices in turn influence the generation of new information and shape … future choices. These considerations motivate a rich research programme on how social networks shape individual and …
Persistent link: https://www.econbiz.de/10014025688
The paper analyzes a dynamic model of rational strategic learning in a network. It complements existing literature by … network. We show that the delay in information transmission caused by incomplete network structures may induce players to … increase own experimentation efforts. As a consequence a complete network can fail to be optimal even if there are no costs for …
Persistent link: https://www.econbiz.de/10010441988
This paper studies network formation in settings where players are heterogeneous with respect to benefits as well as … the costs of forming links. Our results demonstrate that centrality, center-sponsorship and short network diameter are … robust features of equilibrium networks. We find that in a society with many groups, where it is cheaper to connect within …
Persistent link: https://www.econbiz.de/10011326943