Escape dynamics and equilibria selection by iterative cycle decomposition

C-Tier
Journal: Journal of Mathematical Economics
Year: 2010
Volume: 46
Issue: 6
Pages: 1015-1029

Authors (2)

Score contribution per author:

0.505 = (α=2.02 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper explores the medium-run behaviour of bounded rational players in repeatedly played games when they occasionally experiment or make mistakes. The formal analysis introduces a hierarchical structure of limit sets to characterize the most possible medium-run behaviour over gradually increased time intervals. The paper refines the notion of stochastic stability and offers a precise measure of the speed at which stochastically stable equilibria occur. Finally, the paper applies the results to a 3x3 symmetric game of Young (1993).

Technical Details

RePEc Handle
repec:eee:mateco:v:46:y:2010:i:6:p:1015-1029
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25