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Averaged Predictions and the Learning of Equilibrium Play

Author

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  • Flam, S.D.

Abstract

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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    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.

    More about this item

    Keywords

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    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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