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http://hdl.handle.net/10419/56095
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| Title: | | Clever agents in adaptive learning  |
| Authors: | | Matros, Alexander |
| Issue Date: | | 2000 |
| Series/Report no.: | | SSE/EFI Working Paper Series in Economics and Finance 403 |
| Abstract: | | Saez-Marti and Weibull [4] investigate the consequences of letting some agents play a myopic best reply to the myopic best reply in Young's [8] bargaining model. This is how they introduce cleverness of players. We analyze such clever agents in general finite two-player games. We show that Young's [9] prediction is robust: adaptive learning with clever agents does select the same minimal curb set as in the absence of clever agents, if their population share is less than one. However, the long-run strategies distribution in such a curb set may vary with the share of clever agents. |
| Subjects: | | Evolution game theory bounded rationality Markov chain stochastic stability |
| JEL: | | C72 C73 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics
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