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Absorbent Stable Sets

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  • Itzhak Gilboa
  • Dov Samet

Abstract

This paper suggests a general framework to deal with learning, dynamics and evolution in games and economic environments. In this general set-up we define a (set-valued) solution concept and prove some properties, including existence. We then discuss more specific dynamical processes and show that the general solution concept provides quite intuitive results for various contexts.

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File URL: http://www.kellogg.northwestern.edu/research/math/papers/935.pdf
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Bibliographic Info

Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 935.

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Date of creation: Apr 1991
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Handle: RePEc:nwu:cmsems:935

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Postal: Center for Mathematical Studies in Economics and Management Science, Northwestern University, 580 Jacobs Center, 2001 Sheridan Road, Evanston, IL 60208-2014
Phone: 847/491-3527
Fax: 847/491-2530
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Web page: http://www.kellogg.northwestern.edu/research/math/
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  1. Ehud Kalai & Ehud Lehrer, 1990. "Rational Learning Leads to Nash Equilibrium," Discussion Papers 895, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Drew Fudenberg & David K. Levine, 1993. "Self-Confirming Equilibrium," Levine's Working Paper Archive 2147, David K. Levine.
  3. Akihiko Matsui, 1989. "Cheap Talk and Cooperation in the Society," Discussion Papers 848, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  4. I. Gilboa & A. Matsui, 2010. "Social Stability and Equilibrium," Levine's Working Paper Archive 534, David K. Levine.
  5. Kandori, M. & Mailath, G.J., 1991. "Learning, Mutation, And Long Run Equilibria In Games," Papers 71, Princeton, Woodrow Wilson School - John M. Olin Program.
  6. Canning, D., 1990. "Social Equilibrium," Papers 150, Cambridge - Risk, Information & Quantity Signals.
  7. Gilboa Itzhak & Schmeidler David, 1994. "Infinite Histories and Steady Orbits in Repeated Games," Games and Economic Behavior, Elsevier, vol. 6(3), pages 370-399, May.
  8. KOHLBERG, Elon & MERTENS, Jean-François, . "On the strategic stability of equilibria," CORE Discussion Papers RP -716, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  9. Itzhak Gilboa & Akihiko Matsui, 1990. "A Model of Random Matching," Discussion Papers 887, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  10. Ehud Kalai & Ehud Lehrer, 1991. "Private-Beliefs Equilibrium," Discussion Papers 926, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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Cited by:
  1. Matsui Akihiko & Matsuyama Kiminori, 1995. "An Approach to Equilibrium Selection," Journal of Economic Theory, Elsevier, vol. 65(2), pages 415-434, April.
  2. Ramon Marimon & Ellen McGrattan, 1993. "On adaptive learning in strategic games," Economics Working Papers 24, Department of Economics and Business, Universitat Pompeu Fabra.

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