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The target projection dynamic

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  • Tsakas, Elias
  • Voorneveld, Mark

Abstract

We study the target projection dynamic, a model of learning in normal form games. The dynamic is given a microeconomic foundation in terms of myopic optimization under control costs due to a certain status-quo bias. We establish a number of desirable properties of the dynamic: existence, uniqueness and continuity of solution trajectories, Nash stationarity, positive correlation with payoffs, and innovation. Sufficient conditions are provided under which strictly dominated strategies are wiped out. Finally, some stability results are provided for special classes of games.

Suggested Citation

  • Tsakas, Elias & Voorneveld, Mark, 2009. "The target projection dynamic," Games and Economic Behavior, Elsevier, vol. 67(2), pages 708-719, November.
    • Handle: RePEc:eee:gamebe:v:67:y:2009:i:2:p:708-719
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    11. Lahkar, Ratul & Sandholm, William H., 2008. "The projection dynamic and the geometry of population games," Games and Economic Behavior, Elsevier, vol. 64(2), pages 565-590, November.
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    Cited by:

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    3. Lahkar, Ratul & Sandholm, William H., 2008. "The projection dynamic and the geometry of population games," Games and Economic Behavior, Elsevier, vol. 64(2), pages 565-590, November.
    4. Sylvain Sorin, 2023. "Continuous Time Learning Algorithms in Optimization and Game Theory," Dynamic Games and Applications, Springer, vol. 13(1), pages 3-24, March.
    5. Minyu Shen & Feng Xiao & Weihua Gu & Hongbo Ye, 2024. "Cognitive Hierarchy in Day-to-day Network Flow Dynamics," Papers 2409.11908, arXiv.org.
    6. Mertikopoulos, Panayotis & Sandholm, William H., 2018. "Riemannian game dynamics," Journal of Economic Theory, Elsevier, vol. 177(C), pages 315-364.
    7. Dai Zusai, 2018. "Tempered best response dynamics," International Journal of Game Theory, Springer;Game Theory Society, vol. 47(1), pages 1-34, March.
    8. Sylvain Sorin & Cheng Wan, 2016. "Finite composite games: Equilibria and dynamics," Post-Print hal-02885860, HAL.
    9. Reinoud Joosten & Berend Roorda, 2008. "Generalized projection dynamics in evolutionary game theory," Papers on Economics and Evolution 2008-11, Philipps University Marburg, Department of Geography.

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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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