Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10259/5236
Título
Best experienced payoff dynamics and cooperation in the centipede game
Publicado en
Theoretical Economics. 2019, V. 14, n. 4, p. 1347–1386
Editorial
Econometric Society
Fecha de publicación
2019-11
ISSN
1933-6837
DOI
10.3982/TE3565
Resumo
We study population game dynamics under which each revising agent tests each
of his strategies a fixed number of times, with each play of each strategy being
against a newly drawn opponent, and chooses the strategy whose total payoff was
highest. In the centipede game, these best experienced payoff dynamics lead to cooperative
play. When strategies are tested once, play at the almost globally stable
state is concentrated on the last few nodes of the game, with the proportions of
agents playing each strategy being largely independent of the length of the game.
Testing strategies many times leads to cyclical play.
Palabras clave
Evolutionary game theory
backward induction
centipede game
computational algebra
Materia
Economía
Economics
Versión del editor
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