Clever agents in Young's evolutionary bargaining model
AbstractIn the models of Young (1993a, b), boundedly rational individuals are recurrently matched to play a game, and they play myopic best replies to the recent history of play. It could therefore be an advantage to instead play a myiopic best reply to the myopic best reply, something boundedly rational players might conceivably also do. We investigate this possibility in the context of Young's (1993b) bargaining model. It turns out that "cleverness" in this respect indeed does have an advantage in some cases. However, if all individuals are equally informed about past play, in a statistical sense, then the Nash bargaining solution remains the unique long-run outcome when the mutation rate goes to zero.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 281.
Length: 11 pages
Date of creation: 10 Nov 1998
Date of revision:
Publication status: Published in Journal of Economic Theory , 1999, pages 268-279.
Note: Published in Journal of Economic Theory, 1999, Vol 86, No 2.
Contact details of provider:
Postal: The Economic Research Institute, Stockholm School of Economics, P.O. Box 6501, 113 83 Stockholm, Sweden
Phone: +46-(0)8-736 90 00
Fax: +46-(0)8-31 01 57
Web page: http://www.hhs.se/
More information through EDIRC
Bargaining; evolution; game theory;
Other versions of this item:
- Saez-Marti, Maria & Weibull, Jorgen W., 1999. "Clever Agents in Young's Evolutionary Bargaining Model," Journal of Economic Theory, Elsevier, vol. 86(2), pages 268-279, June.
- Weibull, Jörgen W. & Saez-Marti, Maria, 1998. "Clever Agents in Young's Evolutionary Bargaining Model," Working Paper Series 507, Research Institute of Industrial Economics.
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-1998-11-20 (All new papers)
- NEP-CDM-1998-11-20 (Collective Decision-Making)
- NEP-EVO-1998-11-20 (Evolutionary Economics)
- NEP-MIC-1998-11-20 (Microeconomics)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Matros, Alexander, 2003.
"Clever agents in adaptive learning,"
Journal of Economic Theory,
Elsevier, vol. 111(1), pages 110-124, July.
- Herbert Dawid & Joern Dermietzel, 2006. "How Robust is the Equal Split Norm? Responsive Strategies, Selection Mechanisms and the Need for Economic Interpretation of Simulation Parameters," Computational Economics, Society for Computational Economics, vol. 28(4), pages 371-397, November.
- Blume, Andreas & Dieckmann, Tone, 1998.
"Learning to Communicate in Cheap-Talk Games,"
98-12, University of Iowa, Department of Economics.
- Rozen, Kareen, 2013. "Conflict leads to cooperation in demand bargaining," Journal of Economic Behavior & Organization, Elsevier, vol. 87(C), pages 35-42.
- Tore Ellingsen & Jack Robles, 2000.
"Does Evolution Solve the Hold-up Problem,"
Econometric Society World Congress 2000 Contributed Papers
1525, Econometric Society.
- Josephson, Jens, 2009.
"Stochastic adaptation in finite games played by heterogeneous populations,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 33(8), pages 1543-1554, August.
- Josephson, Jens, 2001. "Stochastic Adaptation in Finite Games Played by Heterogeneous Populations," Working Paper Series in Economics and Finance 475, Stockholm School of Economics.
- Francesco Squintani, 1999. "Moral Hazard," Discussion Papers 1269, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Alexander Matros, 2006. "Altruistic Versus Rational Behavior in a Public Good Game," Working Papers 309, University of Pittsburgh, Department of Economics, revised Sep 2008.
- Matros, Alexander, 2012. "Altruistic versus egoistic behavior in a Public Good game," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 642-656.
- Kevin Hasker, 2004. "The Emergent Seed : Simplifying the Analysis of Dynamic Evolution," Departmental Working Papers 0406, Bilkent University, Department of Economics.
- Sandholm,W.H., 1999. "Almost global convergence to p-dominant equilibrium," Working papers 37, Wisconsin Madison - Social Systems.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helena Lundin).
If references are entirely missing, you can add them using this form.