On the convergence of logit-response to (strict) Nash equilibria

Carlos Alós-Ferrer and Nick Netzer

Economic Theory Bulletin, 2017, vol. 5, issue 1, No 1, 8 pages

Abstract: Abstract We show that the logit-response dynamics converges to a subset of (strict) Nash equilibria for any weakly acyclic, N-player normal form game. The result holds independently of whether revision opportunities arise as in asynchronous learning or in other ways, as long as the dynamics is regular. Our analysis generalizes and organizes recent convergence results in the literature. Further, it provides a simple selection criterion, because convergence to strict Nash equilibria obtains even in the presence of non-strict, pure-strategy Nash equilibria.

Keywords: Logit-response dynamics; Weakly acyclic games; Stochastic stability (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s40505-016-0104-1

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