Stochastic stability on general state spaces
AbstractThis paper studies stochastic stability methods applied to processes on general state spaces. This includes settings in which agents repeatedly interact and choose from an uncountable set of strategies. Dynamics exist for which the stochastically stable states differ from those of any reasonable finite discretization. When there are a finite number of rest points of the unperturbed dynamic, sufficient conditions for analogues of results from the finite state space literature are derived and studied. Illustrative examples are given.
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Bibliographic InfoPaper provided by University of Sydney, School of Economics in its series Working Papers with number 2012-16.
Date of creation: Oct 2012
Date of revision: Jul 2014
general state space; stochastic stability; Learning;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-03 (All new papers)
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