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Drift and equilibrium selection with human and computer players

  • Roberto Ricciuti


    (University of Florence)

  • Alessandro Innocenti


    (University of Siena)

  • Mauro Caminati


    (University of Siena)

The theory of drift (Binmore and Samuelson 1999) concerns equilibrium selection in which second-order disturbances may have first-order effects in the emergence of one equilibrium over the other. We provided experimental evidence with human players supporting the model in Caminati, Innocenti and Ricciuti (2006). In this paper we test it with conditioning by computer players. When computers are removed and humans are matched against each other, the comparative static properties of the model are confirmed.

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Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 3 (2008)
Issue (Month): 19 ()
Pages: 1-7

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Handle: RePEc:ebl:ecbull:eb-08c70009
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  1. Roth, Alvin E & Schoumaker, Francoise, 1983. "Expectations and Reputations in Bargaining: An Experimental Study," American Economic Review, American Economic Association, vol. 73(3), pages 362-72, June.
  2. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
  3. M. Kandori & G. Mailath & R. Rob, 1999. "Learning, Mutation and Long Run Equilibria in Games," Levine's Working Paper Archive 500, David K. Levine.
  4. Caminati, Mauro & Innocenti, Alessandro & Ricciuti, Roberto, 2006. "Drift effect under timing without observability: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 61(3), pages 393-414, November.
  5. Glen Ellison, 2010. "Learning, Local Interaction, and Coordination," Levine's Working Paper Archive 391, David K. Levine.
  6. Binmore, K. & Samuelson, L., 1997. "Evolutionary Drift and Equilibrium Selection," Working papers 9729r, Wisconsin Madison - Social Systems.
  7. repec:bla:restud:v:66:y:1999:i:2:p:363-93 is not listed on IDEAS
  8. Binmore, Ken, et al, 1993. "Focal Points and Bargaining," International Journal of Game Theory, Springer, vol. 22(4), pages 381-409.
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