We consider a network game based on matching pennies with two types of agents, conformists and rebels. Conformists prefer to match the action taken by the majority of her neighbors while rebels like to match the minority. We investigate the simultaneous best response dynamic focusing on the...

Purpose – The authors make assessment on RMB valuation and to contribute to the fierce debate on this important issue, which is perceived to have a great effect on the improvement or deterioration in trade balance. A triangular analysis approach is put forward and empirical assessment is made....

This paper describes a general framework for equilibrium selection by tracing the graph of the quantal response equilibrium (QRE) correspondence as a function of the estimation error. If a quantal response function satisfies C2 continuity, monotonicity and cumulativity, the graph of QRE...