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Continuous-Time Strategy Selection in Linear Population Games

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  • Siegfried Berninghaus
  • Karl-Martin Ehrhart
  • Claudia Keser

Abstract

In an experimental evolutionary game framework we investigate whether subjects end up in a socially efficient state. We examine two games, a game where the socially efficient state is also an equilibrium and a game which has no equilibrium in pure strategies at all. Furthermore, we distinguish between a situation in which the subjects are completely informed about the payoff function and a situation in which they are incompletely informed. We observe that subjects spend the greater part of the time at or near the efficient state. If the efficient state is an equilibrium, they spend more time there than otherwise. Furthermore, incomplete information increases the time spent at the efficient state. Copyright Kluwer Academic Publishers 1999

Suggested Citation

  • Siegfried Berninghaus & Karl-Martin Ehrhart & Claudia Keser, 1999. "Continuous-Time Strategy Selection in Linear Population Games," Experimental Economics, Springer;Economic Science Association, vol. 2(1), pages 41-57, August.
  • Handle: RePEc:kap:expeco:v:2:y:1999:i:1:p:41-57 DOI: 10.1023/A:1009977715310
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    References listed on IDEAS

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    1. Spiegel, Mark M., 1995. "Threshold effects in international lending," Journal of Development Economics, Elsevier, vol. 46(2), pages 341-356, April.
    2. Carlson, John A & McAfee, R Preston, 1983. "Discrete Equilibrium Price Dispersion," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 480-493, June.
    3. Berninghaus, Siegfried, 1984. "A general existence theorem for equilibrium price dispersions," Information Economics and Policy, Elsevier, vol. 1(3), pages 239-266.
    4. Kalai, Ehud & Lehrer, Ehud, 1993. "Rational Learning Leads to Nash Equilibrium," Econometrica, Econometric Society, vol. 61(5), pages 1019-1045, September.
    5. Berninghaus, Siegfried K. & Ehrhart, Karl-Martin, 1998. "Time horizon and equilibrium selection in tacit coordination games: Experimental results," Journal of Economic Behavior & Organization, Elsevier, vol. 37(2), pages 231-248, October.
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    Cited by:

    1. Friedman, Daniel & Huck, Steffen & Oprea, Ryan & Weidenholzer, Simon, 2015. "From imitation to collusion: Long-run learning in a low-information environment," Journal of Economic Theory, Elsevier, vol. 155(C), pages 185-205.
    2. Berninghaus, Siegfried & Ehrhart, Karl-Martin & Ott, Marion, 2005. "A network experiment in continuous time : the influence of link costs," Papers 05-02, Sonderforschungsbreich 504.
    3. Berninghaus, Siegfried & Ehrhart, Karl-Martin & Ott, Marion, 2008. "Myopically forward-looking agents in a network formation game : theory and experimental evidence," Papers 08-02, Sonderforschungsbreich 504.
    4. Siegfried Berninghaus & Karl-Martin Ehrhart & Marion Ott & Bodo Vogt, 2007. "Evolution of networks—an experimental analysis," Journal of Evolutionary Economics, Springer, pages 317-347.
    5. Siegfried Berninghaus & Karl-Martin Ehrhart & Marion Ott, 2006. "A network experiment in continuous time: The influence of link costs," Experimental Economics, Springer;Economic Science Association, vol. 9(3), pages 237-251, September.
    6. repec:eee:phsmap:v:486:y:2017:i:c:p:455-464 is not listed on IDEAS
    7. Arnold, Tone & Schwalbe, Ulrich, 2002. "Dynamic coalition formation and the core," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 363-380, November.

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