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A note on absolutely expedient learning rules

Carlos Oyarzun

Journal of Economic Theory, 2014, vol. 153, issue C, 213-223

Abstract: I provide a full characterization of the set of absolutely expedient learning rules introduced in Börgers et al. [2]. The expected change in the expected payoff can be written as a quadratic form on the vector of relative expected payoffs of the strategies. This permits use of standard linear algebra arguments to provide a characterization in terms of the matrix defining this quadratic form.

Keywords: Absolute expediency; Learning rules; Built-in similarity (search for similar items in EconPapers)
JEL-codes: D81 D83 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1016/j.jet.2014.07.002

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