The evolution of conventions under incomplete information

被引:6
|
作者
Jensen, M
Sloth, B
Whitta-Jacobsen, HJ
机构
[1] Univ So Denmark, Inst Econ, DK-5230 Odense M, Denmark
[2] Danish Competit Authorit, DK-1165 Copenhagen K, Denmark
[3] Univ Copenhagen, Inst Econ, DK-1455 Copenhagen K, Denmark
关键词
static games of incomplete information; Bayesian games; evolution; conventions; chicken;
D O I
10.1007/s00199-003-0460-6
中图分类号
F [经济];
学科分类号
02 ;
摘要
We formulate an evolutionary learning process with trembles for static games of incomplete information. For many games, if the amount of trembling is small, play will be in accordance with the games' (strict) Bayesian equilibria most of the time. This supports the notion of Bayesian equilibrium. Often the process will select a specific equilibrium. We study an extension to incomplete information of the prototype conflict known as "Chicken" and find that the equilibrium selection by evolutionary learning may well be in favor of inefficient Bayesian equilibria where some types of players fail to coordinate.
引用
收藏
页码:171 / 185
页数:15
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