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Learning to Play Bayesian Games

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  • Eddie Dekel
  • Drew Fudenberg
  • David K. Levine

Abstract

This paper discusses the implications of learning theory for the analysis of Bayesian games. One goal is to illuminate the issues that arise when modeling situations where players are learning about the distribution of Nature's move as well as learning about the opponents' strategies. A second goal is to argue that quite restrictive assumptions are necessary to justify the concept of Nash equilibrium without a common prior as a steady state of a learning process.

Suggested Citation

  • Eddie Dekel & Drew Fudenberg & David K. Levine, 2001. "Learning to Play Bayesian Games," Harvard Institute of Economic Research Working Papers 1926, Harvard - Institute of Economic Research.
  • Handle: RePEc:fth:harver:1926
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    File URL: http://www.economics.harvard.edu/pub/hier/2001/HIER1926.pdf
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    References listed on IDEAS

    as
    1. Rubinstein Ariel & Wolinsky Asher, 1994. "Rationalizable Conjectural Equilibrium: Between Nash and Rationalizability," Games and Economic Behavior, Elsevier, vol. 6(2), pages 299-311, March.
    2. Dekel, Eddie & Fudenberg, Drew & Levine, David K., 1999. "Payoff Information and Self-Confirming Equilibrium," Journal of Economic Theory, Elsevier, vol. 89(2), pages 165-185, December.
    3. Thomas Piketty, 1995. "Social Mobility and Redistributive Politics," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 551-584.
    4. Fudenberg, Drew & Levine, David K, 1993. "Self-Confirming Equilibrium," Econometrica, Econometric Society, vol. 61(3), pages 523-545, May.
    5. Kalai, Ehud & Lehrer, Ehud, 1993. "Rational Learning Leads to Nash Equilibrium," Econometrica, Econometric Society, vol. 61(5), pages 1019-1045, September.
    6. Jordan J. S., 1995. "Bayesian Learning in Repeated Games," Games and Economic Behavior, Elsevier, vol. 9(1), pages 8-20, April.
    7. David Spector, 2000. "Rational Debate and One-Dimensional Conflict," The Quarterly Journal of Economics, Oxford University Press, vol. 115(1), pages 181-200.
    8. Fudenberg, Drew & Levine, David K, 1993. "Steady State Learning and Nash Equilibrium," Econometrica, Econometric Society, vol. 61(3), pages 547-573, May.
    9. Jackson, Matthew O. & Kalai, Ehud, 1997. "Social Learning in Recurring Games," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 102-134, October.
    10. Fudenberg, Drew & Kreps, David M., 1995. "Learning in extensive-form games I. Self-confirming equilibria," Games and Economic Behavior, Elsevier, vol. 8(1), pages 20-55.
    11. Drew Fudenberg & David K. Levine, 1997. "Measuring Players' Losses in Experimental Games," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 507-536.
    12. Mitropoulos, Atanasios, 2001. "Learning under minimal information: An experiment on mutual fate control," Journal of Economic Psychology, Elsevier, vol. 22(4), pages 523-557, August.
    13. Cox, James C. & Shachat, Jason & Walker, Mark, 2001. "An Experiment to Evaluate Bayesian Learning of Nash Equilibrium Play," Games and Economic Behavior, Elsevier, vol. 34(1), pages 11-33, January.
    14. Abhijit Banerjee & Rohini Somanathan, 2001. "A Simple Model of Voice," The Quarterly Journal of Economics, Oxford University Press, vol. 116(1), pages 189-227.
    15. Chen, Yan, 2003. "An experimental study of serial and average cost pricing mechanisms," Journal of Public Economics, Elsevier, vol. 87(9-10), pages 2305-2335, September.
    16. Hitoshi Matsushima, 1998. "Towards a Theory of Subjective Games," CIRJE F-Series CIRJE-F-9, CIRJE, Faculty of Economics, University of Tokyo.
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