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Rational Multi-Agent Search

Author

Listed:
  • Andreas Blume
  • April Franco

    () (Economics University of Iowa)

  • Paul Heidhues

Abstract

We study games in which players search for an optimal action profile. All action profiles are either a success, with a payoff of one, or a failure, with a payoff of zero. Players do not know the location of success profiles; instead each player is privately informed about the marginal distribution of success profiles over his actions. We characterize optimal joint search strategies.

Suggested Citation

  • Andreas Blume & April Franco & Paul Heidhues, 2006. "Rational Multi-Agent Search," 2006 Meeting Papers 776, Society for Economic Dynamics.
  • Handle: RePEc:red:sed006:776
    as

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    File URL: http://repec.org/sed2006/up.27287.1140043904.pdf
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    References listed on IDEAS

    as
    1. Gossner, Olivier & Vieille, Nicolas, 2003. "Strategic learning in games with symmetric information," Games and Economic Behavior, Elsevier, vol. 42(1), pages 25-47, January.
    2. repec:dau:papers:123456789/6379 is not listed on IDEAS
    3. Bhaskar, V., 2000. "Egalitarianism and Efficiency in Repeated Symmetric Games," Games and Economic Behavior, Elsevier, vol. 32(2), pages 247-262, August.
    4. Thomas Wiseman, 2005. "A Partial Folk Theorem for Games with Unknown Payoff Distributions," Econometrica, Econometric Society, vol. 73(2), pages 629-645, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Search; Decentralization; Symmetry;

    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
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

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