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The rate of convergence of continuous fictitious play

Author

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  • Steven Gjerstad

    (Department of Economics, University of Minnesota, Minneapolis, MN 55455, USA)

Abstract

The rate of convergence to Nash equilibrium of continuous fictitious play is determined for a generic set of utilities and initial beliefs in 2 þ 2 games. In addition, an example is provided comparing the rate of convergence of discrete fictitious play to the rate for continuous fictitious play. Finally, the convergent dynamic of fictitious play is related to the nonconvergent gradient process dynamic in 2 þ 2 games.

Suggested Citation

  • Steven Gjerstad, 1995. "The rate of convergence of continuous fictitious play," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(1), pages 161-178.
    • Handle: RePEc:spr:joecth:v:7:y:1995:i:1:p:161-178
    Note: Received: June 10, 1994; revised version July 27, 1994
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    Cited by:

    1. Flam, Sjur Didrik, 1998. "Averaged predictions and the learning of equilibrium play," Journal of Economic Dynamics and Control, Elsevier, vol. 22(6), pages 833-848, June.
    2. Shachat, Jason & Swarthout, J. Todd, 2012. "Learning about learning in games through experimental control of strategic interdependence," Journal of Economic Dynamics and Control, Elsevier, vol. 36(3), pages 383-402.
    3. Ewerhart, Christian & Valkanova, Kremena, 2020. "Fictitious play in networks," Games and Economic Behavior, Elsevier, vol. 123(C), pages 182-206.
    4. Flam, Sjur Didrik & Mirman, Leonard J., 1998. "Groping for optimal growth," Journal of Economic Dynamics and Control, Elsevier, vol. 23(2), pages 191-207, September.

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