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Unique Stationary Behavior

Author

Listed:
  • Heller, Yuval
  • Mohlin, Erik

Abstract

We study environments in which agents from a large population are randomly matched to play a one-shot game, and, before the interaction begins, each agent observes noisy information about the partner's aggregate behavior. Agents follow stationary strategies that depend on the observed signal. We show that every strategy distribution admits a unique behavior if each player observe on average less than action of his partner. On the other hand, if each player observes on average more than one action, we show that there exists a stationary strategy that admits multiple consistent outcomes.

Suggested Citation

  • Heller, Yuval & Mohlin, Erik, 2015. "Unique Stationary Behavior," MPRA Paper 66179, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:66179
    as

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    File URL: https://mpra.ub.uni-muenchen.de/66179/1/MPRA_paper_66179.pdf
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    References listed on IDEAS

    as
    1. Timothy N. Cason & Daniel Friedman & ED Hopkins, 2014. "Cycles and Instability in a Rock--Paper--Scissors Population Game: A Continuous Time Experiment," Review of Economic Studies, Oxford University Press, vol. 81(1), pages 112-136.
    2. Rosenthal, R W, 1979. "Sequences of Games with Varying Opponents," Econometrica, Econometric Society, vol. 47(6), pages 1353-1366, November.
    3. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    4. V. Bhaskar & George J. Mailath & Stephen Morris, 2013. "A Foundation for Markov Equilibria in Sequential Games with Finite Social Memory -super-," Review of Economic Studies, Oxford University Press, vol. 80(3), pages 925-948.
    5. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
    6. M.A. Nowak & K. Sigmund, 1998. "Evolution of Indirect Reciprocity by Image Scoring/ The Dynamics of Indirect Reciprocity," Working Papers ir98040, International Institute for Applied Systems Analysis.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Markovian process; Random matching.;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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