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Correlated equilibria and local interactions (*)

Author

Listed:
  • Avner Shaked

    (Department of Economics, University of Bonn, Adenauerallee 24-26, D-53113 Bonn, GERMANY)

  • Larry Samuelson

    (Department of Economics, University of Wisconsin, 1180 Observatory Drive, Madison, Wisconsin 53706, USA)

  • George J. Mailath

    (Department of Economics, University of Pennsylvania, 3718 Locust Walk, Philadelphia, PA 19104, USA)

Abstract

This paper shows that Nash equilibria of a local-interaction game are equivalent to correlated equilibria of the underlying game.

Suggested Citation

  • Avner Shaked & Larry Samuelson & George J. Mailath, 1997. "Correlated equilibria and local interactions (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(3), pages 551-556.
  • Handle: RePEc:spr:joecth:v:9:y:1997:i:3:p:551-556
    Note: Received: October 3, 1995; revised version February 21, 1996
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    References listed on IDEAS

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    1. Blume Lawrence E., 1995. "The Statistical Mechanics of Best-Response Strategy Revision," Games and Economic Behavior, Elsevier, vol. 11(2), pages 111-145, November.
    2. Ellison, Glenn, 1993. "Learning, Local Interaction, and Coordination," Econometrica, Econometric Society, vol. 61(5), pages 1047-1071, September.
    3. Blume Lawrence E., 1993. "The Statistical Mechanics of Strategic Interaction," Games and Economic Behavior, Elsevier, vol. 5(3), pages 387-424, July.
    4. Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
    5. George Mailath & Larry Samuelson & Avner Shaked, 1994. "Evolution and Endogenous Interactions," Game Theory and Information 9410003, University Library of Munich, Germany.
    6. Anderlini, Luca & Ianni, Antonella, 1996. "Path Dependence and Learning from Neighbors," Games and Economic Behavior, Elsevier, vol. 13(2), pages 141-177, April.
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    Citations

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    Cited by:

    1. Stephen Morris, 2000. "Contagion," Review of Economic Studies, Oxford University Press, vol. 67(1), pages 57-78.
    2. Stephen Morris, "undated". "Interaction Games: A Unified Analysis of Incomplete Information, Local Interaction and Random Matching," Penn CARESS Working Papers 1879bf5487d743edef7f32bb2, Penn Economics Department.
    3. Susan Lee, 1999. "Assortative Interactions and Endogenous Stratification," Working Papers 99-08-056, Santa Fe Institute.
    4. Lenzo, Justin & Sarver, Todd, 2006. "Correlated equilibrium in evolutionary models with subpopulations," Games and Economic Behavior, Elsevier, vol. 56(2), pages 271-284, August.
    5. Kam-Chau Wong & Chongmin Kim, 2004. "Evolutionarily Stable Correlation," Econometric Society 2004 Far Eastern Meetings 495, Econometric Society.
    6. Ianni, Antonella, 2001. "Learning correlated equilibria in population games," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 271-294, November.
    7. Azrieli, Yaron, 2010. "Categorization and correlation in a random-matching game," Journal of Mathematical Economics, Elsevier, vol. 46(3), pages 303-310, May.
    8. Alos-Ferrer, Carlos & Weidenholzer, Simon, 2007. "Partial bandwagon effects and local interactions," Games and Economic Behavior, Elsevier, vol. 61(2), pages 179-197, November.
    9. Goyal, Sanjeev, 2003. "Learning in Networks: a survey," Economics Discussion Papers 9983, University of Essex, Department of Economics.
    10. Milchtaich, Igal, 2004. "Random-player games," Games and Economic Behavior, Elsevier, vol. 47(2), pages 353-388, May.

    More about this item

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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