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Mixed equilibria are unstable in games of strategic complements

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  • Echenique, Federico
  • Edlin, Aaron

Abstract

In games with strict strategic complementarities, properly mixed Nash equilibria - equilibria that are not in pure strategies - are unstable for broad class of learning dynamics.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 118 (2004)
Issue (Month): 1 (September)
Pages: 61-79

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Handle: RePEc:eee:jetheo:v:118:y:2004:i:1:p:61-79

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Web page: http://www.elsevier.com/locate/inca/622869

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References

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  1. Drew Fudenberg & David K. Levine, 1996. "The Theory of Learning in Games," Levine's Working Paper Archive 624, David K. Levine.
  2. Fudenberg, D. & Kreps, D.M., 1992. "Learning Mixed Equilibria," Working papers 92-13, Massachusetts Institute of Technology (MIT), Department of Economics.
  3. Y. Kanivokski & P. Young, 2010. "Learning Dynamics in Games with Stochastic Perturbations," Levine's Working Paper Archive 476, David K. Levine.
  4. Crawford, Vincent P, 1974. "Learning the Optimal Strategy in a Zero-Sum Game," Econometrica, Econometric Society, vol. 42(5), pages 885-91, September.
  5. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, January.
  6. Martin J Osborne & Ariel Rubinstein, 2009. "A Course in Game Theory," Levine's Bibliography 814577000000000225, UCLA Department of Economics.
  7. Milgrom, P. & Shannon, C., 1991. "Monotone Comparative Statics," Papers 11, Stanford - Institute for Thoretical Economics.
  8. Federico Echenique & Aaron Edlin, 2001. "Mixed Equilibria in Games of Strategic Complements are Unstable," Levine's Working Paper Archive 563824000000000161, David K. Levine.
  9. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, January.
  10. Kaniovski Yuri M. & Young H. Peyton, 1995. "Learning Dynamics in Games with Stochastic Perturbations," Games and Economic Behavior, Elsevier, vol. 11(2), pages 330-363, November.
  11. Hopenhayn, Hugo A & Prescott, Edward C, 1992. "Stochastic Monotonicity and Stationary Distributions for Dynamic Economies," Econometrica, Econometric Society, vol. 60(6), pages 1387-406, November.
  12. Crawford, Vincent P., 1985. "Learning behavior and mixed-strategy Nash equilibria," Journal of Economic Behavior & Organization, Elsevier, vol. 6(1), pages 69-78, March.
  13. Benaim, Michel & Hirsch, Morris W., 1999. "Mixed Equilibria and Dynamical Systems Arising from Fictitious Play in Perturbed Games," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 36-72, October.
  14. Vives, X., 1988. "Nash Equilibrium With Strategic Complementarities," UFAE and IAE Working Papers 107-88, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  15. Ellison, Glenn & Fudenberg, Drew, 2000. "Learning Purified Mixed Equilibria," Journal of Economic Theory, Elsevier, vol. 90(1), pages 84-115, January.
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Citations

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Cited by:
  1. Michael T. Rauh, 2006. "Strategic Complementarities and Search Market Equilibrium," Working Papers 2006-01, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
  2. Andrea Mattozzi & Antonio Merlo, 2005. "Political Careers or Career Politicians?," PIER Working Paper Archive 05-032, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Dec 2005.
  3. Tomas Rodriguez Barraquer, 2013. "From sets of equilibria to structures of interaction underlying binary games of strategic complements," Discussion Paper Series dp655, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  4. Sylvain Dessy & Habiba Djebbari, 2005. "Career Choice, Marriage-Timing, and the Attraction of Unequals," Cahiers de recherche 0507, CIRPEE.
  5. Dimitrios Varvarigos, 2013. "Economic Growth, Health, and the Choice of Polluting Technologies: The Role of Bureaucratic Corruption," Discussion Papers in Economics 13/22, Department of Economics, University of Leicester.
  6. Sylvain Dessy & Jacques Ewoudou & Isabelle Ouellet, 2006. "Understanding the Persistent Low Performance of African Agriculture," Cahiers de recherche 0622, CIRPEE.
  7. Takahashi, Satoru, 2008. "The number of pure Nash equilibria in a random game with nondecreasing best responses," Games and Economic Behavior, Elsevier, vol. 63(1), pages 328-340, May.
  8. Ewoudou, Jacques & Tsimpo, Clarence & Wodon, Quentin, 2009. "Stigma and the take-up of social programs," Policy Research Working Paper Series 4962, The World Bank.
  9. Sandholm, William H., 2007. "Evolution in Bayesian games II: Stability of purified equilibria," Journal of Economic Theory, Elsevier, vol. 136(1), pages 641-667, September.
  10. Partha Gangopadhyay & Biswa N. Bhattacharyay, 2012. "Can there be a Wave-Like Association between Economic Growth and Inequality? Theory and Lessons for East Asia from the Middle East," CESifo Working Paper Series 3953, CESifo Group Munich.
  11. Sylvain Dessy & Jacques Ewoudou, 2006. "Microfinance and Female Empowerment," Cahiers de recherche 0603, CIRPEE.

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