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    Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10259/7008

    Título
    Stability of Strict Equilibria in Best Experienced Payoff Dynamics: Simple Formulas and Applications
    Autor
    Izquierdo, Segismundo S.
    Izquierdo Millán, Luis RodrigoUBU authority Orcid
    Publicado en
    Journal of Economic Theory. 2022, In Press, 105553
    Editorial
    Elsevier
    Fecha de publicación
    2022-09
    ISSN
    0022-0531
    DOI
    10.1016/j.jet.2022.105553
    Abstract
    We consider a family of population game dynamics known as Best Experienced Payoff Dynamics. Under these dynamics, when agents are given the opportunity to revise their strategy, they test some of their possible strategies a fixed number of times. Crucially, each strategy is tested against a new randomly drawn set of opponents. The revising agent then chooses the strategy whose total payoff was highest in the test, breaking ties according to a given tie-breaking rule. Strict Nash equilibria are rest points of these dynamics, but need not be stable. We provide some simple formulas and algorithms to determine the stability or instability of strict Nash equilibria.
    Palabras clave
    Best experienced payoff
    Procedural rationality
    Payoff-sampling dynamics
    Stability
    Materia
    Matemáticas
    Mathematics
    Economía
    Economics
    URI
    http://hdl.handle.net/10259/7008
    Versión del editor
    https://doi.org/10.1016/j.jet.2022.105553
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    Atribución 4.0 Internacional
    Documento(s) sujeto(s) a una licencia Creative Commons Atribución 4.0 Internacional
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