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Learning in Bayesian Games with Binary Actions

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Listed author(s):
  • Beggs Alan

    ()

    (University of Oxford)

Abstract

This paper considers a simple adaptive learning rule in Bayesian games with binary actions where players employ threshold strategies. Global convergence results are given for supermodular games and potential games. If there is a unique equilibrium, players' strategies converge almost surely to it. Even if there is not, in potential games and in the two-player case in supermodular games, any limit point of the learning process must be an equilibrium. In particular, if equilibria are isolated, the learning process converges to one of them almost surely.

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File URL: https://www.degruyter.com/view/j/bejte.2009.9.1/bejte.2009.9.1.1452/bejte.2009.9.1.1452.xml?format=INT
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Article provided by De Gruyter in its journal The B.E. Journal of Theoretical Economics.

Volume (Year): 9 (2009)
Issue (Month): 1 (September)
Pages: 1-30

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Handle: RePEc:bpj:bejtec:v:9:y:2009:i:1:n:33
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Find related papers by JEL classification:
  • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
  • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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  7. Yan Chen & Robert Gazzale, 2004. "When Does Learning in Games Generate Convergence to Nash Equilibria? The Role of Supermodularity in an Experimental Setting," American Economic Review, American Economic Association, vol. 94(5), pages 1505-1535, December.
  8. Hardle, Wolfgang & Linton, Oliver, 1986. "Applied nonparametric methods," Handbook of Econometrics,in: R. F. Engle & D. McFadden (ed.), Handbook of Econometrics, edition 1, volume 4, chapter 38, pages 2295-2339 Elsevier.
  9. Itzhak Gilboa & David Schmeidler, 2003. "Inductive Inference: An Axiomatic Approach," Econometrica, Econometric Society, vol. 71(1), pages 1-26, January.
  10. Frank Heinemann & Rosemarie Nagel & Peter Ockenfels, 2004. "The Theory of Global Games on Test: Experimental Analysis of Coordination Games with Public and Private Information," Econometrica, Econometric Society, vol. 72(5), pages 1583-1599, 09.
  11. Hardle, Wolfgang & Linton, Oliver, 1986. "Applied nonparametric methods," Handbook of Econometrics,in: R. F. Engle & D. McFadden (ed.), Handbook of Econometrics, edition 1, volume 4, chapter 38, pages 2295-2339 Elsevier.
  12. Antonio Cabrales & Rosemarie Nagel & Roc Armenter, 2007. "Equilibrium selection through incomplete information in coordination games: an experimental study," Experimental Economics, Springer;Economic Science Association, vol. 10(3), pages 221-234, September.
  13. Jakub Steiner & Colin Stewart, 2007. "Learning by Similarity in Coordination Problems," CERGE-EI Working Papers wp324, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  14. Tsybakov,A.B., 1988. "Passive stochastic approximation," Discussion Paper Serie A 207, University of Bonn, Germany.
  15. Athey, Susan, 2001. "Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information," Econometrica, Econometric Society, vol. 69(4), pages 861-889, July.
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Cited by:

  1. Berardi, Michele, 2015. "Learning and coordination with dispersed information," Journal of Economic Dynamics and Control, Elsevier, vol. 58(C), pages 19-33.
  2. Michele Berardi, 2011. "Strategic interactions, incomplete information and learning," Centre for Growth and Business Cycle Research Discussion Paper Series 157, Economics, The Univeristy of Manchester.
  3. Alan Beggs & A.W. Beggs, 2011. "Regularity and Stability in Monotone Bayesian Games," Economics Series Working Papers 587, University of Oxford, Department of Economics.
  4. Steiner, Jakub & Stewart, Colin, 2008. "Contagion through learning," Theoretical Economics, Econometric Society, vol. 3(4), December.
  5. Jakub Steiner & Colin Stewart, 2007. "Learning by Similarity in Coordination Problems," CERGE-EI Working Papers wp324, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  6. Christoph March, 2011. "Adaptive social learning," PSE Working Papers halshs-00572528, HAL.
  7. Alan Beggs, 2015. "Learning in Monotone Bayesian Games," Economics Series Working Papers 737, University of Oxford, Department of Economics.
  8. Saran, Rene & Serrano, Roberto, 2014. "Ex-post regret heuristics under private values (II): 2×2 games," Journal of Mathematical Economics, Elsevier, vol. 54(C), pages 112-123.

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