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Evolutionary bargaining with intentional idiosyncratic play

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  • Naidu, Suresh
  • Hwang, Sung-Ha
  • Bowles, Samuel

Abstract

We study equilibrium selection in stochastic evolutionary bargaining games in which idiosyncratic play is intentional instead of random. In contract games, the stochastically stable state selected by intentional idiosyncratic play is the Nash bargain, rather than the usual Kalai-Smorodinsky solution.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 109 (2010)
Issue (Month): 1 (October)
Pages: 31-33

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Handle: RePEc:eee:ecolet:v:109:y:2010:i:1:p:31-33

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Web page: http://www.elsevier.com/locate/ecolet

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Keywords: Stochastic stability Nash bargaining solution Multiple equilibria Intentionality Idiosyncratic play;

References

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  1. M. Kandori & G. Mailath & R. Rob, 1999. "Learning, Mutation and Long Run Equilibria in Games," Levine's Working Paper Archive 500, David K. Levine.
  2. Binmore, Ken & Samuelson, Larry & Young, Peyton, 2003. "Equilibrium selection in bargaining models," Games and Economic Behavior, Elsevier, vol. 45(2), pages 296-328, November.
  3. Ken Binmore & Larry Samuelson & Petyon Young, 2003. "Equilibrium Selection in Bargaining Models," Levine's Bibliography 506439000000000466, UCLA Department of Economics.
  4. J. Bergin & B. Lipman, 2010. "Evolution with State-Dependent Mutations," Levine's Working Paper Archive 486, David K. Levine.
  5. van Damme, Eric & Weibull, Jorgen W., 2002. "Evolution in Games with Endogenous Mistake Probabilities," Journal of Economic Theory, Elsevier, vol. 106(2), pages 296-315, October.
  6. Young, H Peyton, 1998. "Conventional Contracts," Review of Economic Studies, Wiley Blackwell, vol. 65(4), pages 773-92, October.
  7. Young H. P., 1993. "An Evolutionary Model of Bargaining," Journal of Economic Theory, Elsevier, vol. 59(1), pages 145-168, February.
  8. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  9. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
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Citations

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Cited by:
  1. F. Landini, 2012. "The Evolution of Control in the Digital Economy," Economics Department Working Papers 2012-EP03, Department of Economics, Parma University (Italy).
  2. Cui, Zhiwei & Wang, Shouyang & Zhang, Jin & Zu, Lei, 2013. "Stochastic stability in one-way flow networks," Mathematical Social Sciences, Elsevier, vol. 66(3), pages 410-421.
  3. Kevin Hasker, 2014. "The Emergent Seed: A Representation Theorem for Models of Stochastic Evolution and two formulas for Waiting Time," Levine's Working Paper Archive 786969000000000954, David K. Levine.
  4. Landini, Fabio, 2012. "Technology, property rights and organizational diversity in the software industry," Structural Change and Economic Dynamics, Elsevier, vol. 23(2), pages 137-150.
  5. Newton, Jonathan, 2012. "Coalitional stochastic stability," Games and Economic Behavior, Elsevier, vol. 75(2), pages 842-854.
  6. Hwang, Sung-Ha & Newton, Jonathan, 2014. "A classification of bargaining solutions by evolutionary origin," Working Papers 2014-02, University of Sydney, School of Economics, revised Apr 2014.

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