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Equilibrium Selection in Supermodular Games with Mean Payoff Technologies

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  • Burkhard Hehenkamp
  • Oddvar Kaarbøe

Abstract

We examine an evolutionary model of equilibrium selection, where all individuals interact w ith each other, recurrently playing a strictly supermodular game. Individuals play (myopic)\best responses to the current population profile, occasionally they pick an arbitrary strategy at random. To address the robustness of equilibrium selection in this simultaneous play senario, we investigate whether different best-response approximations can lead to different long run equilibria.

Suggested Citation

  • Burkhard Hehenkamp & Oddvar Kaarbøe, 2004. "Equilibrium Selection in Supermodular Games with Mean Payoff Technologies," Discussion Papers in Economics 04_05, University of Dortmund, Department of Economics.
    • Handle: RePEc:mik:wpaper:04_05
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    References listed on IDEAS

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    1. Per Svejstrup Hansen & Oddvar M. Kaarbøe, 2002. "Equilibrium selection in coordination games with simultaneous play," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(4), pages 793-807.
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    Cited by:

    1. Kim, Chongmin & Wong, Kam-Chau, 2010. "Long-run equilibria with dominated strategies," Games and Economic Behavior, Elsevier, vol. 68(1), pages 242-254, January.

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    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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