Stochastic Uncoupled Dynamics and Nash Equilibrium
In this paper we consider dynamic processes, in repeated games, that are subject to the natural informational restriction of uncoupledness. We study the almost sure convergence to Nash equilibria, and present a number of possibility and impossibility results. Basically, we show that if in addition to random moves some recall is introduced, then successful search procedures that are uncoupled can be devised. In particular, to get almost sure convergence to pure Nash equilibria when these exist, it suffices to recall the last two periods of play.
|Date of creation:||Oct 2004|
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- Aumann, Robert J. & Sorin, Sylvain, 1989. "Cooperation and bounded recall," Games and Economic Behavior, Elsevier, vol. 1(1), pages 5-39, March.
- Sergiu Hart & Andreu Mas-Colell, 2000.
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- S. Hart & A. Mas-Collel, 2010. "A Simple Adaptive Procedure Leading to Correlated Equilibrium," Levine's Working Paper Archive 572, David K. Levine.
- Sergiu Hart & Andreu Mas-Colell, 1997. "A Simple Adaptive Procedure Leading to Correlated Equilibrium," Game Theory and Information 9703006, EconWPA, revised 24 Mar 1997.
- Sergiu Hart, 2005.
Econometric Society, vol. 73(5), pages 1401-1430, 09.
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474, The Johns Hopkins University,Department of Economics.
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- Young, H. Peyton, 2004. "Strategic Learning and its Limits," OUP Catalogue, Oxford University Press, number 9780199269181, July.
- Fabrizio Germano & Gábor Lugosi, 2004.
"Global Nash convergence of Foster and Young's regret testing,"
Economics Working Papers
788, Department of Economics and Business, Universitat Pompeu Fabra.
- Germano, Fabrizio & Lugosi, Gabor, 2007. "Global Nash convergence of Foster and Young's regret testing," Games and Economic Behavior, Elsevier, vol. 60(1), pages 135-154, July.
- Sergiu Hart & Andreu Mas-Colell, 2003. "Uncoupled Dynamics Do Not Lead to Nash Equilibrium," American Economic Review, American Economic Association, vol. 93(5), pages 1830-1836, December.
- Foster, Dean P. & Vohra, Rakesh V., 1997. "Calibrated Learning and Correlated Equilibrium," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 40-55, October.
- Sergiu Hart & Andreu Mas-Colell, 2001.
"Regret-Based Continuous-Time Dynamics,"
Discussion Paper Series
dp309, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem, revised Apr 2003.
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