Stochastic Evolution with Slow Learning

Alan Beggs

Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper studies the extent to which diffusion approximations provide a reliable guide to equilibrium selection results in finite games. It is shown that they do for a class of finite games with weak learning provided that limits are taken in a certain order. The paper also shows that making mutation rates small does not in general select a unique equilibrium but making selection strong does.

Keywords: GAMES; RISK; MUTATIONS (search for similar items in EconPapers)
JEL-codes: C72 C73 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2000
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Stochastic evolution with slow learning (2002)
Working Paper: Stochastic Evolution with Slow Learning (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:oxf:wpaper:9933

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