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Learning a population distribution

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  • Yoo, Seung Han

Abstract

This paper introduces a dynamic Bayesian game with an unknown population distribution. Players do not know the true population distribution and assess it based on their private observations using Bayes׳ rule. First, we show the existence and characterization of an equilibrium in which each player׳s strategy is a function not only of the player׳s type but also of experience. Second, we show that each player׳s initial belief about the population distribution converges almost surely to a “correct” belief.

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  • Yoo, Seung Han, 2014. "Learning a population distribution," Journal of Economic Dynamics and Control, Elsevier, vol. 48(C), pages 188-201.
    • Handle: RePEc:eee:dyncon:v:48:y:2014:i:c:p:188-201
    DOI: 10.1016/j.jedc.2014.09.010
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    More about this item

    Keywords

    Bayesian games; Dynamic games; Bayesian learning;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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