Player-compatible learning and player-compatible equilibrium

A-Tier
Journal: Journal of Economic Theory
Year: 2021
Volume: 194
Issue: C

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

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

Abstract

Player-Compatible Equilibrium (PCE) imposes cross-player restrictions on the magnitudes of the players' “trembles” onto different strategies. These restrictions capture the idea that trembles correspond to deliberate experiments by agents who are unsure of the prevailing distribution of play. PCE selects intuitive equilibria in a number of examples where trembling-hand perfect equilibrium (Selten, 1975) and proper equilibrium (Myerson, 1978) have no bite. We show that rational learning and weighted fictitious play imply our compatibility restrictions in a steady-state setting.

Technical Details

RePEc Handle
repec:eee:jetheo:v:194:y:2021:i:c:s0022053121000557
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25