Local interactions and p-best response set
We study a local interaction model where agents play a finite n-person game following a perturbed best-response process with inertia. We consider the concept of minimal p-best response set to analyze distributions of actions in the long run. We distinguish between two assumptions made by agents about the matching rule. We show that only actions contained in the minimal p-best response set can be selected provided p is sufficiently small. We demonstrate that these predictions are sensitive to the assumptions about the matching rule.
|Date of creation:||2014|
|Publication status:||Published in Journal of Applied Mathematics, Hindawi Publishing Corporation, 2014, vol. 2014, 7 p. <10.1155/2014/415686>|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-01002448|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Atsushi Kajii & Stephen Morris, "undated".
"The Robustness of Equilibria to Incomplete Information,"
Penn CARESS Working Papers
ed504c985fc375cbe719b3f60, Penn Economics Department.
- Atsushi Kajii & Stephen Morris, 1997. "The Robustness of Equilibria to Incomplete Information," Econometrica, Econometric Society, vol. 65(6), pages 1283-1310, November.
- Atsushi Kajii & Stephen Morris, "undated". ""The Robustness of Equilibria to Incomplete Information*''," CARESS Working Papres 95-18, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
- Jacques Durieu & Philippe Solal & Olivier Tercieux, 2011.
"Adaptive learning and p-best response sets,"
- Alos-Ferrer, Carlos & Weidenholzer, Simon, 2007. "Partial bandwagon effects and local interactions," Games and Economic Behavior, Elsevier, vol. 61(2), pages 179-197, November.
- Glen Ellison, 2010.
"Learning, Local Interaction, and Coordination,"
Levine's Working Paper Archive
391, David K. Levine.
- Glenn Ellison, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," Review of Economic Studies, Oxford University Press, vol. 67(1), pages 17-45.
- Tercieux, Olivier, 2006.
"p-Best response set,"
Journal of Economic Theory,
Elsevier, vol. 131(1), pages 45-70, November.
- Simon Weidenholzer, 2010. "Coordination Games and Local Interactions: A Survey of the Game Theoretic Literature," Games, MDPI, Open Access Journal, vol. 1(4), pages 551-551, November.
When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-01002448. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.