EconStor >
University of California (UC) >
UC Santa Cruz, Economics Department >
Working Papers, Economics Department, UC Santa Cruz >

Please use this identifier to cite or link to this item:
Title:Cycles and instability in a Rock-Paper-Scissors population game: A continuous time experiment PDF Logo
Authors:Cason, Timothy N.
Friedman, Daniel
Hopkins, Ed
Issue Date:2012
Series/Report no.:Working Papers, UC Santa Cruz Economics Department 702
Abstract:We report laboratory experiments that use new, visually oriented software to explore the dynamics of 3 x 3 games with intransitive best responses. Each moment, each player is matched against the entire population, here 8 human subjects. A heat map offers instantaneous feedback on current profit opportunities. In the continuous slow adjustment treatment, we see distinct cycles in the population mix. The cycle amplitude, frequency and direction are consistent with standard learning models. Cycles are more erratic and higher frequency in the instantaneous adjustment treatment. Control treatments (using simultaneous matching in discrete time) replicate previous results that exhibit weak or no cycles. Average play is approximated fairly well by Nash equilibrium, and an alternative point prediction, TASP (Time Average of the Shapley Polygon), captures some regularities that NE misses.
mixed equilibrium
continuous time
Document Type:Working Paper
Appears in Collections:Working Papers, Economics Department, UC Santa Cruz

Files in This Item:
File Description SizeFormat
722373996.pdf1.27 MBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.