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Unbeatable Imitation

  • Duersch, Peter
  • Oechssler, Joerg
  • Schipper, Burkhard C

We show that for many classes of symmetric two-player games, the simple decision rule "imitate-the-best" can hardly be beaten by any other decision rule. We provide necessary and sufficient conditions for imitation to be unbeatable and show that it can only be beaten by much in games that are of the rock-scissors-paper variety. Thus, in many interesting examples, like 2x2 games, Cournot duopoly, price competition, rent seeking, public goods games, common pool resource games, minimum effort coordination games, arms race, search, bargaining, etc., imitation cannot be beaten by much even by a very clever opponent.

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File URL: https://mpra.ub.uni-muenchen.de/20856/1/MPRA_paper_20856.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20856.

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Date of creation: 18 Feb 2010
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Handle: RePEc:pra:mprapa:20856
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  1. Milgrom, P. & Shannon, C., 1991. "Monotone Comparative Statics," Papers 11, Stanford - Institute for Thoretical Economics.
  2. Jose Apesteguia & Steffen Huck & Jörg Oechssler & Simon Weidenholzer, 2007. "Imitation and the Evolution of Walrasian Behavior: Theoretically Fragile but Behaviorally Robust," Working Papers 0461, University of Heidelberg, Department of Economics, revised Nov 2007.
  3. Huck, Steffen & Normann, Hans-Theo & Oechssler, Jorg, 1999. "Learning in Cournot Oligopoly--An Experiment," Economic Journal, Royal Economic Society, vol. 109(454), pages C80-95, March.
  4. Burkhard C. Schipper, 2004. "Submodularity and the evolution of Walrasian behavior," International Journal of Game Theory, Springer, vol. 32(4), pages 471-477, 08.
  5. Karl H. Schlag, . "Why Imitate, and if so, How? A Bounded Rational Approach to Multi- Armed Bandits," ELSE working papers 028, ESRC Centre on Economics Learning and Social Evolution.
  6. Jose Apesteguia & Steffen Huck & Jorg Oechssler, 2003. "Imitation - Theory and Experimental Evidence," Experimental 0309001, EconWPA.
  7. Duersch, Peter & Oechssler, Joerg & Schipper, Burkhard C, 2010. "Pure Saddle Points and Symmetric Relative Payoff Games," MPRA Paper 20864, University Library of Munich, Germany.
  8. Walker, James M. & Gardner, Roy & Ostrom, Elinor, 1990. "Rent dissipation in a limited-access common-pool resource: Experimental evidence," Journal of Environmental Economics and Management, Elsevier, vol. 19(3), pages 203-211, November.
  9. Hehenkamp, B. & Leininger, W. & Possajennikov, A., 2004. "Evolutionary equilibrium in Tullock contests: spite and overdissipation," European Journal of Political Economy, Elsevier, vol. 20(4), pages 1045-1057, November.
  10. Peter Duersch & Joerg Oechssler & Burkhard Schipper, 2011. "Once Beaten, Never Again: Imitation in Two-Player Potential Games," Working Papers 1112, University of California, Davis, Department of Economics.
  11. Carlos Alós-Ferrer & Ana Ania, 2005. "The evolutionary stability of perfectly competitive behavior," Economic Theory, Springer, vol. 26(3), pages 497-516, October.
  12. Schipper, Burkhard C., 2005. "Imitators and Optimizers in Cournot Oligopoly," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 53, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  13. Offerman, T.J.S. & Potters, J.J.M. & Sonnemans, J., 2002. "Imitation and belief learning in an oligopoly experiment," Other publications TiSEM a6a771c5-31ba-4193-8f76-a, Tilburg University, School of Economics and Management.
  14. L. Randall Wray & Stephanie Bell, 2004. "Introduction," Chapters, in: Credit and State Theories of Money, chapter 1 Edward Elgar.
  15. Ana B. Ania, 2005. "Evolutionary stability and Nash equilibrium in finite populations, with an application to price competition," Vienna Economics Papers 0601, University of Vienna, Department of Economics.
  16. Peter Duersch & Jörg Oechssler & Burkhard Schipper, 2012. "Pure strategy equilibria in symmetric two-player zero-sum games," International Journal of Game Theory, Springer, vol. 41(3), pages 553-564, August.
  17. Amir, Rabah, 1996. "Cournot Oligopoly and the Theory of Supermodular Games," Games and Economic Behavior, Elsevier, vol. 15(2), pages 132-148, August.
  18. Juang, Wei-Torng, 2002. "Rule Evolution and Equilibrium Selection," Games and Economic Behavior, Elsevier, vol. 39(1), pages 71-90, April.
  19. Peter Duersch & Albert Kolb & Jörg Oechssler & Burkhard Schipper, 2010. "Rage against the machines: how subjects play against learning algorithms," Economic Theory, Springer, vol. 43(3), pages 407-430, June.
  20. J. B. Van Huyck & R. C. Battalio & R. O. Beil, 2010. "Tacit coordination games, strategic uncertainty, and coordination failure," Levine's Working Paper Archive 661465000000000393, David K. Levine.
  21. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-77, November.
  22. K. Schlag, 2010. "Why Imitate, and if so, How? Exploring a Model of Social Evolution," Levine's Working Paper Archive 454, David K. Levine.
  23. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
  24. Fernando Vega-Redondo, 1997. "The Evolution of Walrasian Behavior," Econometrica, Econometric Society, vol. 65(2), pages 375-384, March.
  25. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  26. Schaffer, Mark E., 1989. "Are profit-maximisers the best survivors? : A Darwinian model of economic natural selection," Journal of Economic Behavior & Organization, Elsevier, vol. 12(1), pages 29-45, August.
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