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A Note on Varying Mutation Rates in 2 x 2 Coordination Games

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Author Info
Alexander F. Tieman (Tinbergen Institute & Free University, Amsterdam)
Harold Houba (Free University, Amsterdam)

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Abstract

The model of 2 x 2 coordination games in Kandori, Mailath, and Rob (Econometrica 1993) is extended to allow for a mutation rate that is stochastic over time. The expected time the system spends in the risk dominated equilibrium is systematically underestimated by the standard model in Kandori, Mailath, and Rob (Econometrica 1993) when the latter model's (fixed) mutation rate is equal to the expected mutation rate. A small population result corrects a minor omission in Kandori, Mailath, and Rob (Econometrica 1993).

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Paper provided by EconWPA in its series Game Theory and Information with number 9809002.

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Length: 14 pages
Date of creation: 14 Sep 1998
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Handle: RePEc:wpa:wuwpga:9809002

Note: Type of Document - TeX (Scientific Workplace 2.5); prepared on COMPAQ PC; to print on HP Laserjet IV; pages: 14 ; figures: included
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Related research
Keywords: varying mutation rate; risk dominance; coordination games;

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Find related papers by JEL classification:
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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  1. Bergin, James & Lipman, Barton L, 1996. "Evolution with State-Dependent Mutations," Econometrica, Econometric Society, vol. 64(4), pages 943-56, July. [Downloadable!] (restricted)
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  2. Ellison, Glenn, 1993. "Learning, Local Interaction, and Coordination," Econometrica, Econometric Society, vol. 61(5), pages 1047-71, September. [Downloadable!] (restricted)
  3. Cooper, Russell & John, Andrew, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, MIT Press, vol. 103(3), pages 441-63, August. [Downloadable!] (restricted)
  4. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January. [Downloadable!] (restricted)
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  5. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January. [Downloadable!] (restricted)
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