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Dynamic Selection In Normal-Form Games

Author

Listed:
  • MARC MEERTENS

    (Department of Mathematics, University of Nijmegen, Toernooiveld 1, 6525 ED Nijmegen, The Netherlands)

  • JOS POTTERS

    (Department of Mathematics, University of Nijmegen, Toernooiveld 1, 6525 ED Nijmegen, The Netherlands)

  • HANS REIJNIERSE

    (Department of Economics, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, The Netherlands)

Abstract

This paper investigates a class of dynamic selection processes forn-person normal-form games which includes the Brown-von Neumann-Nash dynamics. For (two-person) zero-sum games and for (n-person) potential games every limit set of these dynamics is a subset of the set of Nash-equilibria. Furthermore, under these dynamics the unique Nash-component of a zero-sum game is minimal asymptotically stable and for a potential game a smoothly connected component which is a local maximizer is minimal asymptotically stable.

Suggested Citation

  • Marc Meertens & Jos Potters & Hans Reijnierse, 2006. "Dynamic Selection In Normal-Form Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 395-416.
    • Handle: RePEc:wsi:igtrxx:v:08:y:2006:i:03:n:s0219198906000989
    DOI: 10.1142/S0219198906000989
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    More about this item

    Keywords

    Dynamic selection process; limit set; stability; JEL Classification Number: C61; JEL Classification Number: C62; JEL Classification Number: C72;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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