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Whither game theory? Towards a theory of learning in games

Author

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  • D. Fudenberg
  • D. K. Levine.

Abstract

Game theory has been a huge success in economics. Many important questions have been answered, and game theoretic methods are now central to much economic investigation. We suggest areas where further advances are important, and argue that models of learning are a promising route for improving and widening game theory’s predictive power while preserving the successes of game theory where it already works well. We emphasize in particular the need for better understanding of the speed with which learning takes place.

Suggested Citation

  • D. Fudenberg & D. K. Levine., 2017. "Whither game theory? Towards a theory of learning in games," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
  • Handle: RePEc:nos:voprec:2017-05-6
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    References listed on IDEAS

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    1. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716.
    2. Dreber, Anna & Fudenberg, Drew & Rand, David G., 2014. "Who cooperates in repeated games: The role of altruism, inequity aversion, and demographics," Journal of Economic Behavior & Organization, Elsevier, vol. 98(C), pages 41-55.
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    Cited by:

    1. repec:kap:revind:v:55:y:2019:i:1:d:10.1007_s11151-019-09689-3 is not listed on IDEAS
    2. Philipp Denter & John Morgan & Dana (D.) Sisak, 2018. "Showing Off or Laying Low? The Economics of Psych-outs," Tinbergen Institute Discussion Papers 18-041/VII, Tinbergen Institute.
    3. Irenaeus Wolff & Dominik Bauer, 2018. "Elusive Beliefs: Why Uncertainty Leads to Stochastic Choice and Errors," TWI Research Paper Series 111, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
    4. repec:gam:jgames:v:10:y:2019:i:4:p:38-:d:271942 is not listed on IDEAS
    5. Cason, Timothy N. & Mui, Vai-Lam, 2019. "Individual versus group choices of repeated game strategies: A strategy method approach," Games and Economic Behavior, Elsevier, vol. 114(C), pages 128-145.

    More about this item

    Keywords

    game theory; learning.;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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