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When "Better" is better than "Best"

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  • Ben Amiet
  • Andrea Collevecchio
  • Kais Hamza

Abstract

We consider two-player normal form games where each player has the same finite strategy set. The payoffs of each player are assumed to be i.i.d. random variables with a continuous distribution. We show that, with high probability, the better-response dynamics converge to pure Nash equilibrium whenever there is one, whereas best-response dynamics fails to converge, as it is trapped.

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  • Ben Amiet & Andrea Collevecchio & Kais Hamza, 2020. "When "Better" is better than "Best"," Papers 2011.00239, arXiv.org.
    • Handle: RePEc:arx:papers:2011.00239
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    References listed on IDEAS

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