On the Nonconvergence of Fictitious Play in Coordination Games

Foster D & Young HP (1995). On the Nonconvergence of Fictitious Play in Coordination Games. IIASA Working Paper. IIASA, Laxenburg, Austria: WP-95-001

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Abstract

It is natural to conjecture that fictitious play converges in coordination games, but this is shown by counterexample to be false. Variants of fictitious play in which past actions are eventually forgotten and there are small stochastic perturbations are much better behaved: over the long run players manage to coordinate with high probability.

Item Type: Monograph (IIASA Working Paper)
Additional Information: see WP-96-033 for revised version
Research Programs: Institute Scholars (INS)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:06
Last Modified: 01 Nov 2016 02:46
URI: http://pure.iiasa.ac.at/4591

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