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On the Convergence of Logit Equilibrium in Order Statistic Games

Author

Listed:
  • Kang-oh Yi

    (Sogang University)

Abstract

This paper identifies the conditions under which rational players can reach an inefficient equilibrium as if they make choices ignoring their own influences on the game outcome in a logit equilibrium model of order statistic game. It is shown that, if the number of players increases sufficiently faster than the noise paramemter, the game outcome depends entirely on the prespecified order-statistic and the number of players, and inefficient outcome could result.

Suggested Citation

  • Kang-oh Yi, 2006. "On the Convergence of Logit Equilibrium in Order Statistic Games," Korean Economic Review, Korean Economic Association, vol. 22, pages 69-82.
    • Handle: RePEc:kea:keappr:ker-20060630-22-1-04
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    File URL: http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-20060630-22-1-04.pdf
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    More about this item

    Keywords

    order statistic game; quantal response equilibrium; logit equilibrium;
    All these keywords.

    JEL classification:

    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior

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