Stochastic evolution with slow learning
This paper studies the extent to which diffusion approximations provide a reliable guide to equilibrium selection results in finite games. It is shown that they do for a class of finite games with weak learning provided that limits are taken in a certain order. The paper also shows that making mutation rates small does not in general select a unique equilibrium but making selection strong does.
Volume (Year): 19 (2002)
Issue (Month): 2 ()
|Note:||Received: January 19, 2000; revised version: September 25, 2000|
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|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/199/PS2|
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