Name
Abstract | ||
|---|---|---|
We examine the local stability of mixed equilibria in a smoothed fictitious play model. Our model is easy to analyze and yields the same conclusions as other models in 2×2 games. We focus on 3×3 games. Contrary to some previous suggestions, learning can sometimes provide a justification for complicated mixed equilibria. Whether an equilibrium is stable often depends on the distribution of payoff perturbations. The totally mixed equilibria of zero sum games are generically stable, and the totally mixed equilibria of symmetric games with symmetric perturbations are generically unstable. Journal of Economic Literature Classification Number: C72. |
Year | DOI | Venue |
|---|---|---|
2000 | 10.1006/jeth.1999.2581 | Journal of Economic Theory |
DocType | Volume | Issue |
Journal | 90 | 1 |
ISSN | Citations | PageRank |
0022-0531 | 10 | 10.25 |
References | Authors | |
0 | 2 | |
Name | Order | Citations | PageRank |
|---|---|---|---|
| Glenn Ellison | 1 | 16 | 12.00 |
| Drew Fudenberg | 2 | 175 | 44.93 |