On learning equilibria
نویسندگان
چکیده
منابع مشابه
Learning Equilibria
This paper employs the llopf bifurcation theorem to prove the existence of complicated equilibrium trajectories under least squares learning in a standard version of the overlapping generations model. The periodic and quasiperiodic learning equilibria exist when the locally unique perfect foresight equilibrium is the monetary steady state, and thus are induced by the introduction of learning al...
متن کاملOn Learning Algorithms for Nash Equilibria
Can learning algorithms find a Nash equilibrium? This is a natural question for several reasons. Learning algorithms resemble the behavior of players in many naturally arising games, and thus results on the convergence or nonconvergence properties of such dynamics may inform our understanding of the applicability of Nash equilibria as a plausible solution concept in some settings. A second reas...
متن کاملBehavioral learning equilibria
We propose behavioral learning equilibria as a plausible explanation of coordination of individual expectations and aggregate phenomena such as excess volatility in stock prices and high persistence in inflation. Boundedly rational agents use a simple univariate linear forecasting rule and correctly forecast the unconditional sample mean and first-order sample autocorrelation. In the long run, ...
متن کاملSocial Learning Equilibria
We consider social learning settings in which a group of agents face uncertainty regarding a state of the world, observe private signals, share the same utility function, and act in a general dynamic setting. We introduce Social Learning Equilibria, a static equilibrium concept that abstracts away from the details of the given dynamics, but nevertheless captures the corresponding asymptotic equ...
متن کاملDistributed Learning of Wardrop Equilibria
We consider the problem of learning equilibria in a well known game theoretic traffic model due to Wardrop. We consider a distributed learning algorithm that we prove to converge to equilibria. The proof of convergence is based on a differential equation governing the global macroscopic evolution of the system, inferred from the local microscopic evolutions of agents. We prove that the differen...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Economic Theory
سال: 2005
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-005-0059-1