This paper presents a new, probabilistic model of learning in games which investigates the often stated intuition that common knowledge of stategic intent may arise from repeated interaction. The model is set in the usual repeated game framework, but the two key assumptions are framed in terms of the likelihood of beliefs and actions conditional on the history of play. The first assumption formalizes the basic intuition of the learning approach; the second, the indeterminacy that inspired resort to learning models in the first place.
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Paper provided by Columbia University, Department of Economics in its series Discussion Papers with number
1996_19.
Find related papers by JEL classification: C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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