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Averaged Predictions and the Learning of Equilibrium Play


  • Flam, S.D.


The main objects here are noncooperative games in which all externalities occur via a one-dimensional variable. So-called mean-value iterates are used to approach Nash equilibrium. The proposed schemes generalize many received methods, and can be interpreted as learning taking place during repeated play. An important feature is that no player need to be fully informed about the game structure. Particular examples include Cournot oligopolies and some nonatomic market games.

Suggested Citation

  • Flam, S.D., 1998. "Averaged Predictions and the Learning of Equilibrium Play," Norway; Department of Economics, University of Bergen 178, Department of Economics, University of Bergen.
  • Handle: RePEc:fth:bereco:178

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    References listed on IDEAS

    1. Thorlund-Petersen, Lars, 1990. "Iterative computation of cournot equilibrium," Games and Economic Behavior, Elsevier, vol. 2(1), pages 61-75, March.
    2. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    3. Gjerstad, Steven, 1996. "The Rate of Convergence of Continuous Fictitious Play," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(1), pages 161-177, January.
    4. Drew Fudenberg & David K. Levine, 1998. "The Theory of Learning in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061945, January.
    5. Smale, Steve, 1980. "The Prisoner's Dilemma and Dynamical Systems Associated to Non-Cooperative Games," Econometrica, Econometric Society, vol. 48(7), pages 1617-1634, November.
    6. Rath, Kali P, 1992. "A Direct Proof of the Existence of Pure Strategy Equilibria in Games with a Continuum of Players," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(3), pages 427-433, July.
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    Cited by:

    1. Flam, Sjur Didrik & Horvath, Charles, 1998. "Stochastic mean values, rational expectations, and price movements," Economics Letters, Elsevier, vol. 61(3), pages 293-299, December.
    2. Sjur Didrik Flåm, 2002. "Convexity, Differential Equations, and Games," CESifo Working Paper Series 655, CESifo Group Munich.

    More about this item



    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness


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