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Learning and Implementation on the Internet

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  • Eric Friedman

    ()
    (Rutgers University)

  • Scott Shenker

    ()
    (ICSI, Berkeley)

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    Abstract

    We address the problem of learning and implementation on the Internet. When agents play repeated games in distributed environments like the Internet, they have very limited {\em a priori} information about the other players and the payoff matrix, and the play can be highly asynchronous. Consequently, standard solution concepts like Nash equilibria, or even the serially undominated set, do not apply in such a setting. To construct more appropriate solution concepts, we first describe the essential properties that constitute ``reasonable'' learning behavior in distributed environments. We then study the convergence behavior of such algorithms; these results lead us to propose rather non traditional solutions concepts for this context. Finally, we discuss implementation of social choice functions with these solution concepts.

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    Bibliographic Info

    Paper provided by Rutgers University, Department of Economics in its series Departmental Working Papers with number 199821.

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    Date of creation: 23 Sep 1998
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    Handle: RePEc:rut:rutres:199821

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    Related research

    Keywords: Implementation; Internet; Learning;

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    References

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    1. Roger Lagunoff & Akihiko Matsui, . ""An 'Anti-Folk Theorem' for a Class of Asynchronously Repeated Games''," CARESS Working Papres 95-15, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
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    18. Watson, Joel, 1993. "A "Reputation" Refinement without Equilibrium," Econometrica, Econometric Society, vol. 61(1), pages 199-205, January.
    19. Friedman, Eric J., 1996. "Dynamics and Rationality in Ordered Externality Games," Games and Economic Behavior, Elsevier, vol. 16(1), pages 65-76, September.
    20. Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
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    Citations

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    Cited by:
    1. Kumar, Rajnish, 2013. "Secure implementation in production economies," Mathematical Social Sciences, Elsevier, vol. 66(3), pages 372-378.
    2. Steffen Huck & Rajiv Sarin, 2000. "Players with Limited Memory," Econometric Society World Congress 2000 Contributed Papers 1645, Econometric Society.
    3. Chen, Yan & Khoroshilov, Yuri, 2003. "Learning under limited information," Games and Economic Behavior, Elsevier, vol. 44(1), pages 1-25, July.
    4. Friedman, Eric J., 2002. "Strategic properties of heterogeneous serial cost sharing," Mathematical Social Sciences, Elsevier, vol. 44(2), pages 145-154, November.
    5. Yan Chen & Laura Razzolini & Theodore Turocy, 2007. "Congestion allocation for distributed networks: an experimental study," Economic Theory, Springer, vol. 33(1), pages 121-143, October.

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