Waiting Times and Equilibrium Selection

Alan Beggs

No 142, Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper shows how graphs can be used to calculate expected waiting times in models of equilibrium selection. It also shows how reducing the state space can simplify the calculations both of waiting times and selected equilibria. The results are applied to potential games and games with strategic complementarities.

Keywords: waiting times; equilibruim selection; graphs (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Date: 2003-01-01
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Journal Article: Waiting times and equilibrium selection (2005)
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