STOCHASTIC UNCOUPLED DYNAMICS AND NASH EQUILIBRIUM

Sergiu Hart and Andreu Mas-Colell

Chapter 8 in Simple Adaptive Strategies:From Regret-Matching to Uncoupled Dynamics, 2013, pp 165-189 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractIn this paper we consider dynamic processes, in repeated games, that are subject to the natural informational restriction of uncoupledness. We study the almost sure convergence of play (the period-by-period behavior as well as the long-run frequency) to Nash equilibria of the one-shot stage game, and present a number of possibility and impossibility results. Basically, we show that if in addition to random experimentation some recall, or memory, is introduced, then successful search procedures that are uncoupled can be devised. In particular, to get almost sure convergence to pure Nash equilibria when these exist, it suffices to recall the last two periods of play.

Keywords: Game Theory; Dynamics; Equilibrium; Nash Equilibrium; Correlated Equilibrium; Adaptive Dynamics; Simple Strategies; Regret-Based Strategies; Uncoupled Dynamics; Bounded Rationality (search for similar items in EconPapers)
Date: 2013
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Related works:
Working Paper: Stochastic Uncoupled Dynamics and Nash Equilibrium (2015)
Journal Article: Stochastic uncoupled dynamics and Nash equilibrium (2006)
Working Paper: Stochastic Uncoupled Dynamics and Nash Equilibrium (2004)
Working Paper: Stochastic Uncoupled Dynamics and Nash Equilibrium (2004)
Working Paper: Stochastic uncoupled dynamics and Nash equilibrium (2004)
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