This paper characterizes long-run outcomes for broad classes of symmetric games, when players select actions on the basis of average historical performance. Received wisdom is that when agent’s interests are partially ...
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 ...
It is shown that the set of sequential equilibria of an infinitely repeated incomplete information game coincides with a family of markov chains (with a state space of player type distributions and payoffs). Corresponding ...
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 ...
Bergin, James(Queen’s University. Department of Economics, 1987)
This paper provides a formulation of continuous time repeated games of complete information. A substantial part of the paper is concerned with the definition of a continuous time strategy and the association of outcomes ...