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Payoff-dependent mistakes and q-resistant equilibrium

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  • Yi, Kang-Oh

Abstract

This paper proposes an extension of p-dominance called q-resistant equilibrium, which has the largest resistance to payoff-dependent mistakes. The selection could differ from the risk-dominant equilibrium, and a sufficient condition for a q-resistant equilibrium to follow risk-dominance is provided.

Suggested Citation

  • Yi, Kang-Oh, 2009. "Payoff-dependent mistakes and q-resistant equilibrium," Economics Letters, Elsevier, vol. 102(2), pages 99-101, February.
    • Handle: RePEc:eee:ecolet:v:102:y:2009:i:2:p:99-101
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, April.
    2. McKelvey Richard D. & Palfrey Thomas R., 1995. "Quantal Response Equilibria for Normal Form Games," Games and Economic Behavior, Elsevier, vol. 10(1), pages 6-38, July.
    3. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    4. Blume, Lawrence E., 2003. "How noise matters," Games and Economic Behavior, Elsevier, vol. 44(2), pages 251-271, August.
    5. van Damme, Eric & Weibull, Jorgen W., 2002. "Evolution in Games with Endogenous Mistake Probabilities," Journal of Economic Theory, Elsevier, vol. 106(2), pages 296-315, October.
    6. Bergin, James & Lipman, Barton L, 1996. "Evolution with State-Dependent Mutations," Econometrica, Econometric Society, vol. 64(4), pages 943-956, July.
    7. Binmore, Ken & Samuelson, Larry, 1997. "Muddling Through: Noisy Equilibrium Selection," Journal of Economic Theory, Elsevier, vol. 74(2), pages 235-265, June.
    8. Maruta, Toshimasa, 2002. "Binary Games with State Dependent Stochastic Choice," Journal of Economic Theory, Elsevier, vol. 103(2), pages 351-376, April.
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    Cited by:

    1. Kang-Oh Yi, 2011. "Equilibrium Selection with Payoff-Dependent Mistakes," Working Papers 1115, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    2. Lim, Wooyoung & Neary, Philip R., 2016. "An experimental investigation of stochastic adjustment dynamics," Games and Economic Behavior, Elsevier, vol. 100(C), pages 208-219.

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