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Learning, Matching, and Aggregation

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  • Hopkins, Ed

Abstract

Fictitious play and "gradient" learning are examined in the context of a large population where agents are repeatedly randomly matched. We show that the aggregation of this learning behaviour can be qualitatively di�erent from learning at the level of the individual. This aggregate dynamic belongs to the same class of simply de

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 26 (1999)
Issue (Month): 1 (January)
Pages: 79-110

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Handle: RePEc:eee:gamebe:v:26:y:1999:i:1:p:79-110

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Web page: http://www.elsevier.com/locate/inca/622836

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  1. Crawford, Vincent P., 1985. "Learning behavior and mixed-strategy Nash equilibria," Journal of Economic Behavior & Organization, Elsevier, vol. 6(1), pages 69-78, March.
  2. Barry Sopher & Charles Romeo, 2000. "Learning and Decision Costs in One-Person Games," Departmental Working Papers 199509, Rutgers University, Department of Economics.
  3. Ehud Kalai & Ehud Lehrer, 1990. "Rational Learning Leads to Nash Equilibrium," Discussion Papers 925, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. T. Borgers & R. Sarin, 2010. "Learning Through Reinforcement and Replicator Dynamics," Levine's Working Paper Archive 380, David K. Levine.
  5. Drew Fudenberg & David K. Levine, 1993. "Steady State Learning and Nash Equilibrium," Levine's Working Paper Archive 373, David K. Levine.
  6. M. Kandori & G. Mailath & R. Rob, 1999. "Learning, Mutation and Long Run Equilibria in Games," Levine's Working Paper Archive 500, David K. Levine.
  7. Samuelson, L. & Zhang, J., 1990. "Evolutionary Stability In Symmetric Games," Working papers 90-24, Wisconsin Madison - Social Systems.
  8. repec:att:wimass:9410 is not listed on IDEAS
  9. Ken Binmore & Larry Samuelson, 1994. "Muddling Through:Noisy Equilibrium Selection," Game Theory and Information 9403005, EconWPA, revised 29 Mar 1994.
  10. Friedman, Daniel, 1996. "Equilibrium in Evolutionary Games: Some Experimental Results," Economic Journal, Royal Economic Society, vol. 106(434), pages 1-25, January.
  11. Milgrom, Paul & Roberts, John, 1991. "Adaptive and sophisticated learning in normal form games," Games and Economic Behavior, Elsevier, vol. 3(1), pages 82-100, February.
  12. D. Canning, 2010. "Average Behavior in Learning Models," Levine's Working Paper Archive 490, David K. Levine.
  13. Drew Fudenberg & David Kreps, 2010. "Learning Mixed Equilibria," Levine's Working Paper Archive 415, David K. Levine.
  14. Gale, John & Binmore, Kenneth G. & Samuelson, Larry, 1995. "Learning to be imperfect: The ultimatum game," Games and Economic Behavior, Elsevier, vol. 8(1), pages 56-90.
  15. Binmore, Ken & Samuelson, Larry, 1997. "Muddling Through: Noisy Equilibrium Selection," Journal of Economic Theory, Elsevier, vol. 74(2), pages 235-265, June.
  16. Nachbar, J H, 1990. ""Evolutionary" Selection Dynamics in Games: Convergence and Limit Properties," International Journal of Game Theory, Springer, vol. 19(1), pages 59-89.
  17. Roth, Alvin E. & Erev, Ido, 1995. "Learning in extensive-form games: Experimental data and simple dynamic models in the intermediate term," Games and Economic Behavior, Elsevier, vol. 8(1), pages 164-212.
  18. Brown, James N & Rosenthal, Robert W, 1990. "Testing the Minimax Hypothesis: A Re-examination of O'Neill's Game Experiment," Econometrica, Econometric Society, vol. 58(5), pages 1065-81, September.
  19. Friedman, Daniel, 1991. "Evolutionary Games in Economics," Econometrica, Econometric Society, vol. 59(3), pages 637-66, May.
  20. Sugden, Robert, 1989. "Spontaneous Order," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 85-97, Fall.
  21. Samuelson, Larry & Zhang, Jianbo, 1992. "Evolutionary stability in asymmetric games," Journal of Economic Theory, Elsevier, vol. 57(2), pages 363-391, August.
  22. Monderer, Dov & Shapley, Lloyd S., 1996. "Fictitious Play Property for Games with Identical Interests," Journal of Economic Theory, Elsevier, vol. 68(1), pages 258-265, January.
  23. Samuelson Larry, 1994. "Stochastic Stability in Games with Alternative Best Replies," Journal of Economic Theory, Elsevier, vol. 64(1), pages 35-65, October.
  24. Boylan, Richard T., 1992. "Laws of large numbers for dynamical systems with randomly matched individuals," Journal of Economic Theory, Elsevier, vol. 57(2), pages 473-504, August.
  25. 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. Fernando Lozano & Jaime Lozano & Mario García, 2007. "An artificial economy based on reinforcement learning and agent based modeling," DOCUMENTOS DE TRABAJO 003907, UNIVERSIDAD DEL ROSARIO.
  2. Fudenberg, Drew & Takahashi, Satoru, 2011. "Heterogeneous beliefs and local information in stochastic fictitious play," Games and Economic Behavior, Elsevier, vol. 71(1), pages 100-120, January.
  3. Theodore To, 1995. "Risk and Evolution," CRIEFF Discussion Papers 9513, Centre for Research into Industry, Enterprise, Finance and the Firm.
  4. Ed Hopkins, . "Price Dispersion: An Evolutionary Approach," ESE Discussion Papers 1, Edinburgh School of Economics, University of Edinburgh.
  5. Michel Benaim & Josef Hofbauer & Ed Hopkins, 2006. "Learning in Games with Unstable Equilibria," Levine's Bibliography 321307000000000547, UCLA Department of Economics.
  6. Ed Hopkins & Robert M Seymour, 2004. "The Stability of Price Dispersion under Seller and Consumer Learning," ESE Discussion Papers 52, Edinburgh School of Economics, University of Edinburgh.
  7. Drew Fudenberg & David K Levine, 2006. "An Economists Perspective on Multi-Agent Learning," Levine's Working Paper Archive 784828000000000683, David K. Levine.
  8. Lahkar, Ratul & Seymour, Robert M., 2013. "Reinforcement learning in population games," Games and Economic Behavior, Elsevier, vol. 80(C), pages 10-38.
  9. Josephson, Jens, 2001. "A Numerical Analysis of the Evolutionary Stability of Learning Rules," Working Paper Series in Economics and Finance 474, Stockholm School of Economics.
  10. Ramsza, Michal & Seymour, Robert M., 2010. "Fictitious play in an evolutionary environment," Games and Economic Behavior, Elsevier, vol. 68(1), pages 303-324, January.
  11. Oyama, Daisuke, 2009. "Agglomeration under forward-looking expectations: Potentials and global stability," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 696-713, November.

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