Periodic attractor in the discrete time best-response dynamics of the rock-paper-scissors game

José Pedro Gaivão and Telmo Peixe

No 2019/0108, Working Papers REM from ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa

Abstract: The Rock-Paper-Scissors (RPS) game is a classic non-cooperative game widely studied in terms of its theoretical analysisas well as in its applications,ranging from sociology and biology to economics. Many experimental results of the RPS game indicate that this game is better modelled by the discretized best-response dynamics rather than continuous time dynamics. In this work we show that the attractor of the discrete time best-response dynamics of the RPS game is finite and periodic.Moreover we also describe the bifurcations of the attractor and determine the exact number,period and location of the periodic strategies.

Date: 2019-12
New Economics Papers: this item is included in nep-gth
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