Learning of equilibria by a population with minimal information

Article Abstract:

A study shows that usage of a model that contains rules promoting usage of minimum information and calculation could result to discovery of Nash equilibrium. The model seeks to justify claim that discovery of Nash equilibrium happens in games even if players utilize minimal information and rudimentary responses. Rules contained in the model include those related to the probability of short time interval switching and the random choosing of a new strategy.

Usage, Markov processes, Games of strategy (Mathematics)

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Evolution, interaction, and Nash equilibria

Article Abstract:

Much interest has developed using the theory of evolutionary games to study the emergence of conventions in society. The effects of social interaction on the long run behavior of learning and adaptation in repeated symmetric two-person games are investigated. The global and local convergence to Nash equilibria is studied using the theory of iterated discrete functions. The results are illustrated using coordination and hawk-dove games as examples.

Equilibrium (Economics)

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Migration and the evolution of conventions

Article Abstract:

Multiple equilibria in a game theory suggest differences in economic performance between societies. An evolutionary model is presented to examine where agents are locally matched to play a symmetric coordination game.

United States, Social economics, Socioeconomics

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