Strategy sets closed under payoff sampling

Segismundo S. Izquierdo and Luis R. Izquierdo

Games and Economic Behavior, 2023, vol. 138, issue C, 126-142

Abstract: We consider population games played by procedurally rational players who, when revising their current strategy, test each of their available strategies independently in a series of random matches –i.e., a battery of tests–, and then choose the strategy that performed best in this battery of tests. This revision protocol leads to the so-called payoff-sampling dynamics (aka test-all Best Experienced Payoff dynamics).

Keywords: Payoff sampling; Best experienced payoff; Procedural rationality; Asymptotically stable sets; Closed under payoff sampling (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:138:y:2023:i:c:p:126-142

DOI: 10.1016/j.geb.2022.12.006

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