This paper develops a dynamic evolutionary model in which agents make choices on the basis of relative performance criteria. We distinguish two classes of learned behavior: imitative dynamics and a new class of dynamics, ...
In this paper we develop a model of strategic behaviour in continuous time
games of complete information, which includes conventional repeated games
in discrete time as a special case. The model developed here admits a ...
In this paper we present a general framework for the discussion of renegotiation in repeated games, provide a new concept of "renegotiation-proof" equilibrium, and show how the framework clarifies and unifies existing work. ...
We study the implementation of social choice rules in incomplete information environments. A sufficiency condition called posterior reversal is given for extensive form implementation. The condition has a natural interpretation ...
In this paper we consider Anonymous Sequential Games with Aggregate Uncertainty. We prove existence of equilibrium when there is a general state space representing aggregate uncertainty. When the economy is stationary and ...
Recent evolutionary models have introduced "small mutation rates" as a way of refining predictions of long-run behavior. We show that this refinement effect can only be obtained by restrictions on how the magnitude of the ...
We study the implementation of social choice rules in incomplete information environments. A sufficiency condition called posterior reversal is given for extensive form implementation. The condition has a natural interpretation ...
This paper develops a general repeated game model over an arbitrary time domain. The paper considers the issue of formulating strategic behaviour in a general framework which includes continuous time behaviour. There are ...
The goal of non-cooperative foundations is to provide credible non-cooperative models of negotiation and coalition formation whose equilibrium outcomes agree with a given cooperative solution. Here we argue that this goal ...