Selecting Equilibria using Best-Response Dynamics

Vincent Boucher

Economics Bulletin, 2017, vol. 37, issue 4, 2728-2734

Abstract: I propose a simple simulation procedure for large games with multiple equilibria. The simulation procedure is based on a best-response dynamic. The implied equilibrium selection mechanism is intuitive: more stable equilibria are selected with higher probability.

Keywords: Potential Games; Equilibrium Selection Mechanism; Basin of Attraction (search for similar items in EconPapers)
JEL-codes: C1 C6 (search for similar items in EconPapers)
Date: 2017-12-01
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Citations: View citations in EconPapers (6)

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Working Paper: Selecting Equilibria using Best-Response Dynamics (2017)
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