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Learning, Matching and Aggregation

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  • Ed Hopkins

Abstract

Fictitious play and "gradient" learning are examined in the context of a large population where agents are repeatedly randomly matched. We show that the aggregation of this learning behaviour can be qualitatively di®erent from learning at the level of the individual. This aggregate dynamic belongs to the same class of simply de
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Suggested Citation

  • Ed Hopkins, "undated". "Learning, Matching and Aggregation," Discussion Papers 1996-2, Edinburgh School of Economics, University of Edinburgh.
    • Handle: RePEc:edn:ediedp:1996-2
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    References listed on IDEAS

    as
    1. Romeo, Charles & Sopher, Barry, 1999. "Learning and Decision Costs in One-Person Games," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 14(4), pages 335-357, July-Aug..
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    23. Nachbar, J H, 1990. ""Evolutionary" Selection Dynamics in Games: Convergence and Limit Properties," International Journal of Game Theory, Springer;Game Theory Society, vol. 19(1), pages 59-89.
    24. Boylan, Richard T., 1992. "Laws of large numbers for dynamical systems with randomly matched individuals," Journal of Economic Theory, Elsevier, vol. 57(2), pages 473-504, August.
    25. Monderer, Dov & Shapley, Lloyd S., 1996. "Fictitious Play Property for Games with Identical Interests," Journal of Economic Theory, Elsevier, vol. 68(1), pages 258-265, January.
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    Citations

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    Cited by:

    1. Yannick Viossat, 2015. "Evolutionary dynamics and dominated strategies," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(1), pages 91-113, April.
    2. Ed Hopkins, "undated". "Price Dispersion: An Evolutionary Approach," Discussion Papers 1996-3, Edinburgh School of Economics, University of Edinburgh.
    3. Fudenberg, Drew & Takahashi, Satoru, 2011. "Heterogeneous beliefs and local information in stochastic fictitious play," Games and Economic Behavior, Elsevier, vol. 71(1), pages 100-120, January.
    4. Ed Hopkins, 2002. "Two Competing Models of How People Learn in Games," Econometrica, Econometric Society, vol. 70(6), pages 2141-2166, November.
    5. Hopkins, Ed, 1999. "A Note on Best Response Dynamics," Games and Economic Behavior, Elsevier, vol. 29(1-2), pages 138-150, October.
    6. Benaïm, Michel & Hofbauer, Josef & Hopkins, Ed, 2009. "Learning in games with unstable equilibria," Journal of Economic Theory, Elsevier, vol. 144(4), pages 1694-1709, July.
    7. Drew Fudenberg & David K Levine, 2006. "An Economists Perspective on Multi-Agent Learning," Levine's Working Paper Archive 784828000000000683, David K. Levine.
    8. Ed Hopkins & Robert M. Seymour, 2002. "The Stability of Price Dispersion under Seller and Consumer Learning," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1157-1190, November.
    9. Josephson, Jens, 2008. "A numerical analysis of the evolutionary stability of learning rules," Journal of Economic Dynamics and Control, Elsevier, vol. 32(5), pages 1569-1599, May.
    10. Ted To, 1999. "Risk and evolution," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 13(2), pages 329-343.
    11. Sandholm, William H., 2015. "Population Games and Deterministic Evolutionary Dynamics," Handbook of Game Theory with Economic Applications,, Elsevier.
    12. Ed Hopkins, 2002. "Adaptive Learning Models of Consumer Behaviour (first version)," Edinburgh School of Economics Discussion Paper Series 80, Edinburgh School of Economics, University of Edinburgh.
    13. Lahkar, Ratul & Seymour, Robert M., 2013. "Reinforcement learning in population games," Games and Economic Behavior, Elsevier, vol. 80(C), pages 10-38.
    14. Oyama, Daisuke, 2009. "Agglomeration under forward-looking expectations: Potentials and global stability," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 696-713, November.
    15. Panayotis Mertikopoulos & William H. Sandholm, 2016. "Learning in Games via Reinforcement and Regularization," Mathematics of Operations Research, INFORMS, vol. 41(4), pages 1297-1324, November.
    16. Ramsza, Michal & Seymour, Robert M., 2010. "Fictitious play in an evolutionary environment," Games and Economic Behavior, Elsevier, vol. 68(1), pages 303-324, January.
    17. Takatoshi Tabuchi & Dao‐Zhi Zeng, 2004. "Stability of Spatial Equilibrium," Journal of Regional Science, Wiley Blackwell, vol. 44(4), pages 641-660, November.
    18. Fernando Lozano & Jaime Lozano & Mario García, 2007. "An artificial economy based on reinforcement learning and agent based modeling," Documentos de Trabajo 3907, Universidad del Rosario.

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    More about this item

    JEL classification:

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

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