On the Nonconvergence of Fictitious Play in Coordination Games (Revised version of WP-95-001)

Foster D & Young HP (1996). On the Nonconvergence of Fictitious Play in Coordination Games (Revised version of WP-95-001). IIASA Working Paper. IIASA, Laxenburg, Austria: WP-96-033

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Abstract

It is shown by example that learning rules of the fictitious play type fail to converge in certain kinds of coordination games. By contrast, learning rules in which past actions are eventually forgotten and which incorporate small stochastic perturbations are better behaved: over the long run, players manage to coordinate with probability one.

Item Type: Monograph (IIASA Working Paper)
Research Programs: Institute Scholars (INS)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:08
Last Modified: 15 Aug 2016 10:47
URI: http://pure.iiasa.ac.at/4993

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