Evolutionary Learning in Signalling Games
AbstractWe study equilibrium selection by evolutionary learning in monotone signalling games. The learning process is a development of that introduced by Young for static games extended to deal with incomplete information and sequential moves; it thus involves stochastic trembles. For vanishing trembles the process gives rise to strong selection among sequential equilibria. If the game has separating equilibria, then in the long run only play according to a specific separating equilibrium, the so-called Riley equilibrium, will be observed frequently. Also if the game has no separating equilibrium a particular behavior will emerge as the only one observed frequently in the long run. It may or may not correspond to a pooling equilibrium, but if it does, it is to one where both types of sender choose the signal that is best for the ''high'' type when all signals are responded to as if they came from the ''low'' type. This selection is stronger than, and only partly in accordance with, traditional selection based on restrictions on ''out-of-equilibrium'' beliefs.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 34 (2001)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/622836
Other versions of this item:
- Hans Jørgen Jacobsen & Mogens Jensen & Birgitte Sloth, 1999. "Evolutionary Learning in Signalling Games," Discussion Papers 99-01, University of Copenhagen. Department of Economics.
- Jacobsen, H.J. & Jensen, M. & Sloth, B., 1999. "Evolutionary Learning in Signalling Games," Papers 99-01, Carleton - School of Public Administration.
- Hans Jørgen Jacobsen & Mogens Jensen & Birgitte Sloth, 1998. "Evolutionary Learning in Signalling Games," CIE Discussion Papers 1999-14, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Sep 1999.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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Game Theory and Information
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- Elliott O. Wagner, 2013. "The Dynamics of Costly Signaling," Games, MDPI, Open Access Journal, vol. 4(2), pages 163-181, April.
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