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Evolutionary bargaining with intentional idiosyncratic play

Author

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  • Naidu, Suresh
  • Hwang, Sung-Ha
  • Bowles, Samuel

Abstract

We study equilibrium selection in stochastic evolutionary bargaining games in which idiosyncratic play is intentional instead of random. In contract games, the stochastically stable state selected by intentional idiosyncratic play is the Nash bargain, rather than the usual Kalai-Smorodinsky solution.

Suggested Citation

  • Naidu, Suresh & Hwang, Sung-Ha & Bowles, Samuel, 2010. "Evolutionary bargaining with intentional idiosyncratic play," Economics Letters, Elsevier, vol. 109(1), pages 31-33, October.
  • Handle: RePEc:eee:ecolet:v:109:y:2010:i:1:p:31-33
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    References listed on IDEAS

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    1. Young H. P., 1993. "An Evolutionary Model of Bargaining," Journal of Economic Theory, Elsevier, vol. 59(1), pages 145-168, February.
    2. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-518, May.
    3. Bergin, James & Lipman, Barton L, 1996. "Evolution with State-Dependent Mutations," Econometrica, Econometric Society, vol. 64(4), pages 943-956, July.
    4. Ken Binmore & Larry Samuelson & Petyon Young, 2003. "Equilibrium Selection in Bargaining Models," Levine's Bibliography 506439000000000466, UCLA Department of Economics.
    5. 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.
    6. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    7. van Damme, Eric & Weibull, Jorgen W., 2002. "Evolution in Games with Endogenous Mistake Probabilities," Journal of Economic Theory, Elsevier, vol. 106(2), pages 296-315, October.
    8. Binmore, Ken & Samuelson, Larry & Young, Peyton, 2003. "Equilibrium selection in bargaining models," Games and Economic Behavior, Elsevier, vol. 45(2), pages 296-328, November.
    9. H. Peyton Young, 1998. "Conventional Contracts," Review of Economic Studies, Oxford University Press, vol. 65(4), pages 773-792.
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    Citations

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    Cited by:

    1. H Peyton Young, 2014. "The Evolution of Social Norms," Economics Series Working Papers 726, University of Oxford, Department of Economics.
    2. Mäs, Michael & Nax, Heinrich H., 2016. "A behavioral study of “noise” in coordination games," Journal of Economic Theory, Elsevier, vol. 162(C), pages 195-208.
    3. repec:spr:joecth:v:64:y:2017:i:3:d:10.1007_s00199-016-0988-x is not listed on IDEAS
    4. Mäs, Michael & Nax, Heinrich H., 2016. "A behavioral study of “noise” in coordination games," LSE Research Online Documents on Economics 65422, London School of Economics and Political Science, LSE Library.
    5. Fabio Landini, 2012. "The Evolution of Control in the Digital Economy," Department of Economics University of Siena 655, Department of Economics, University of Siena.
    6. Newton, Jonathan, 2015. "Stochastic stability on general state spaces," Journal of Mathematical Economics, Elsevier, vol. 58(C), pages 46-60.
    7. repec:syd:wpaper:2123/9993 is not listed on IDEAS
    8. Hwang, Sung-Ha & Lim, Wooyoung & Neary, Philip & Newton, Jonathan, 2016. "Conventional Contracts, Intentional behavior and Logit Choice: Equality Without Symmetry," Working Papers 2016-13, University of Sydney, School of Economics.
    9. Sung-Ha Hwang & Jonathan Newton, 2017. "Payoff-dependent dynamics and coordination games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(3), pages 589-604, October.
    10. Kevin Hasker, 2014. "The Emergent Seed: A Representation Theorem for Models of Stochastic Evolution and two formulas for Waiting Time," Levine's Working Paper Archive 786969000000000954, David K. Levine.
    11. Newton, Jonathan, 2012. "Coalitional stochastic stability," Games and Economic Behavior, Elsevier, vol. 75(2), pages 842-854.
    12. Cui, Zhiwei & Wang, Shouyang & Zhang, Jin & Zu, Lei, 2013. "Stochastic stability in one-way flow networks," Mathematical Social Sciences, Elsevier, vol. 66(3), pages 410-421.
    13. Landini, Fabio, 2012. "Technology, property rights and organizational diversity in the software industry," Structural Change and Economic Dynamics, Elsevier, vol. 23(2), pages 137-150.
    14. Lim, Wooyoung & Neary, Philip R., 2016. "An experimental investigation of stochastic adjustment dynamics," Games and Economic Behavior, Elsevier, vol. 100(C), pages 208-219.

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