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Sophisticated Play by Idiosyncratic Agents


  • Myatt, D.P.
  • Wallace, C.


The payoffs of a symmetric 2x2 coordination game are perturbed by agent-specific heterogeneity. Individuals observe a (possibly sampled) history of play, which forms the initial hypothesis for an opponent's behaviour. Seedings beliefs in this manner, they iteratively reason toward a Bayesian Nash equilibrium. Realised actions augment history and context evolves. Both risk-dominance and generalised risk-dominance determine equilibrium selection as heterogeneity vanishes. When sampling is sufficiently incomplete, the risk-dominant equilibrium is played irrespective of the history observed.

Suggested Citation

  • Myatt, D.P. & Wallace, C., 1999. "Sophisticated Play by Idiosyncratic Agents," Economics Papers 1999-w1, Economics Group, Nuffield College, University of Oxford.
  • Handle: RePEc:nuf:econwp:1999-w1

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    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory


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