A Note on Varying Mutation Rates in 2 x 2 Coordination Games
The model of 2 x 2 coordination games in Kandori, Mailath, and Rob (Econometrica 1993) is extended to allow for a mutation rate that is stochastic over time. The expected time the system spends in the risk dominated equilibrium is systematically underestimated by the standard model in Kandori, Mailath, and Rob (Econometrica 1993) when the latter model's (fixed) mutation rate is equal to the expected mutation rate. A small population result corrects a minor omission in Kandori, Mailath, and Rob (Econometrica 1993).
|Date of creation:||14 Sep 1998|
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- Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993.
"Learning, Mutation, and Long Run Equilibria in Games,"
Econometric Society, vol. 61(1), pages 29-56, January.
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- James Bergin & B. L. Lipman, 1994.
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199411, School of Economics, University College Dublin.
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- J Bergin & B L Lipman, 1997. "Evolution with state-dependent Mutations," Levine's Working Paper Archive 771, David K. Levine.
- Glen Ellison, 2010.
"Learning, Local Interaction, and Coordination,"
Levine's Working Paper Archive
391, David K. Levine.
- Russell Cooper & Andrew John, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, Oxford University Press, vol. 103(3), pages 441-463.
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