Learning to play approximate Nash equilibria in games with many players

Edward Cartwright

No 269484, Economic Research Papers from University of Warwick - Department of Economics

Abstract: We illustrate one way in which a population of boundedly rational individuals can learn to play an approximate Nash equilibrium. Players are assumed to make strategy choices using a combination of imitation and innovation. We begin by looking at an imitation dynamic and provide conditions under which play evolves to an imitation equilibrium; convergence is conditional on the network of social interaction. We then illustrate, through example, how imitation and innovation can complement each other; in particular, we demonstrate how imitation can ëhelpí a population to learn to play a Nash equilibrium where more rational methods do not. This leads to our main result in which we provide a general class of large game for which the imitation with innovation dynamic almost surely converges to an approximate Nash, imitation equilibrium.

Keywords: Agricultural and Food Policy; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 47
Date: 2003-03-03
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Citations: View citations in EconPapers (9)

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Related works:
Working Paper: Learning to Play Approximate Nash Equilibria in Games with Many Players (2004)
Working Paper: LEARNING TO PLAY APPROXIMATE NASH EQUILIBRIA IN GAMES WITH MANY PLAYERS (2003)
Working Paper: Learning to play approximate Nash equilibria in games with many players (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:269484

DOI: 10.22004/ag.econ.269484

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