Averaged Predictions and the Learning of Equilibrium Play

Sjur Flåm

Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen

Abstract: The main objects here are noncooperative games in which all externalities occur via a one-dimensional variable. So-called mean-value iterates are used to approach Nash equilibrium. The proposed schemes generalize many received methods, and can be interpreted as learning taking place during repeated play. An important feature is that no player need to be fully informed about the game structure. Particular examples include Cournot oligopolies and some nonatomic market games.

Keywords: GAMES; LEARNING (search for similar items in EconPapers)
JEL-codes: C72 D83 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1998
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Citations: View citations in EconPapers (2)

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Journal Article: Averaged predictions and the learning of equilibrium play (1998)
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