Fictitious play in an evolutionary environment
We consider continuous time versions of the fictitious play updating algorithm in an evolutionary environment. We derive two forms of continuous-time limit, both defining approximations to this algorithm. The first has the form of a first-order partial differential equation, which we solve explicitly. The dynamic for a distribution of strategies is also derived, which we show can be written in a form similar to a positive definite dynamic. The asymptotic solution (in the ultra long run) is discussed for 2-player, 2-strategy co-ordination and anti-coordination games, and we show convergence to Nash equilibrium in both cases. The second, and better, approximation is in the form of a diffusion equation. This is considerably more difficult to analyze. However, we derive a formal solution and show that it leads to the same asymptotic limit for the distribution of strategies as the 1st-order approximation for 2-player, 2-strategy anti-coordination games.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hopkins, Ed, 1999.
"Learning, Matching, and Aggregation,"
Games and Economic Behavior,
Elsevier, vol. 26(1), pages 79-110, January.
- Hopkins, E., 1995. "Learning, Matching and Aggregation," G.R.E.Q.A.M. 95a20, Universite Aix-Marseille III.
- Ed Hopkins, . "Learning, Matching and Aggregation," ELSE working papers 033, ESRC Centre on Economics Learning and Social Evolution.
- Ed Hopkins, . "Learning, Matching and Aggregation," Department of Economics 1996 : II, Edinburgh School of Economics, University of Edinburgh.
- Ed Hopkins, 1995. "Learning, Matching and Aggregation," Game Theory and Information 9512001, EconWPA.
- Ed Hopkins, . "Learning, Matching and Aggregation," Discussion Papers 1996-2, Edinburgh School of Economics, University of Edinburgh.
- Ed Hopkins, 1995. "Learning, Matching and Aggregation," ESE Discussion Papers 2, Edinburgh School of Economics, University of Edinburgh.
- Milgrom, Paul & Roberts, John, 1991. "Adaptive and sophisticated learning in normal form games," Games and Economic Behavior, Elsevier, vol. 3(1), pages 82-100, February.
- D. Canning, 2010.
"Average Behavior in Learning Models,"
Levine's Working Paper Archive
490, David K. Levine.
- Jordan J. S., 1993. "Three Problems in Learning Mixed-Strategy Nash Equilibria," Games and Economic Behavior, Elsevier, vol. 5(3), pages 368-386, July.
- Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
- Futia, Carl A, 1982. "Invariant Distributions and the Limiting Behavior of Markovian Economic Models," Econometrica, Econometric Society, vol. 50(2), pages 377-408, March.
- Drew Fudenberg & David K. Levine, 1998.
"The Theory of Learning in Games,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262061945, December.
- Fudenberg Drew & Kreps David M., 1993.
"Learning Mixed Equilibria,"
Games and Economic Behavior,
Elsevier, vol. 5(3), pages 320-367, July.
- Monderer, Dov & Shapley, Lloyd S., 1996. "Fictitious Play Property for Games with Identical Interests," Journal of Economic Theory, Elsevier, vol. 68(1), pages 258-265, January.
- Berger, Ulrich, 2007. "Two more classes of games with the continuous-time fictitious play property," Games and Economic Behavior, Elsevier, vol. 60(2), pages 247-261, August.
When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:68:y:2010:i:1:p:303-324. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.