Recency, consistent learning, and Nash equilibrium
نویسندگان
چکیده
منابع مشابه
Recency, Consistent Learning, and Nash Equilibrium Learning with Recency Bias
We examine the long-run implication of two models of learning with recency bias: recursive weights and limited memory. We show that both models generate similar beliefs, and that both have a weighted universal consistency property. Using the limited memory model we are able to produce learning procedures that are both weighted universally consistent and converge with probability one to strict N...
متن کاملRecency, consistent learning, and Nash equilibrium.
We examine the long-term implication of two models of learning with recency bias: recursive weights and limited memory. We show that both models generate similar beliefs and that both have a weighted universal consistency property. Using the limited-memory model we produce learning procedures that both are weighted universally consistent and converge with probability one to strict Nash equilibr...
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A solution concept maps strategic games into strategy predictions. Nash equilibrium is the most widely used solution concept in game theory. Three main explanations have been used to argue why players should end up playing Nash equilibrium: 1) introspective reasoning, 2) communication 3) learning. Careful study of these has shown that the case for the Nash equilibrium is not entirely unambiguou...
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Consider a finite stage game G that is repeated infinitely often. At each time, the players have hypotheses about their opponents' repeated game strategies. They frequently test their hypotheses against the opponents' recent actions. When a hypothesis fails a test, a new one is adopted. Play is almost rational in the sense that, at each point in time, the players' strategies are ε-best replies ...
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ژورنال
عنوان ژورنال: Proceedings of the National Academy of Sciences
سال: 2014
ISSN: 0027-8424,1091-6490
DOI: 10.1073/pnas.1400987111