A note on absolutely expedient learning rules
Journal of Economic Theory, 2014, vol. 153, issue C, 213-223
I provide a full characterization of the set of absolutely expedient learning rules introduced in Börgers et al. . 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)
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