Regret Matching with Finite Memory

Rene Saran and Roberto Serrano

No 2010-10, Working Papers from Brown University, Department of Economics

Abstract: We consider the regret matching process with finite memory. For general games in normal form, it is shown that any recurrent class of the dynamics must be such that the action profiles that appear in it constitute a closed set under the ìsame or better replyî correspondence (CUSOBR set) that does not contain a smaller product set that is closed under ìsame or better replies,î i.e., a smaller PCUSOBR set. Two characterizations of the recurrent classes are offered. First, for the class of weakly acyclic games under better replies, each recurrent class is monomorphic and corresponds to each pure Nash equilibrium. Second, for a modified process with random sampling, if the sample size is sufficiently small with respect to the memory bound, the recurrent classes consist of action profiles that are minimal PCUSOBR sets. Our results are used in a robust example that shows that the limiting empirical distribution of play can be arbitrarily far from correlated equilibria for any large but finite choice of the memory bound.

Keywords: Regret Matching; Nash Equilibria; Closed Sets under Same or Better Replies; Correlated Equilibria. (search for similar items in EconPapers)
Date: 2010
New Economics Papers: this item is included in nep-gth
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://economics.brown.edu/sites/g/files/dprerj72 ... rs/2010-10_paper.pdf (application/pdf)

Related works:
Journal Article: Regret Matching with Finite Memory (2012)
Working Paper: Regret Matching with Finite Memory (2010)
Working Paper: Regret matching with finite memory (2010)
Working Paper: Regret matching with finite memory (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bro:econwp:2010-10

Access Statistics for this paper

More papers in Working Papers from Brown University, Department of Economics Department of Economics, Brown University, Providence, RI 02912.
Bibliographic data for series maintained by Brown Economics Webmaster ().