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Equilibrium selection in supermodular games with mean payoff technologies

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We examine an evolutionary model of equilibrium selection, where all individuals interact with each other, recurrently playing a strictly supermodular game. Individuals play (myopic) best responses to the current population profile, occa- sionally they pick an arbitrary strategy at random. To address the robustness of equilibrium selection in this simultaneous play scenario, we investigate whether different best-response approximations can lead to different long run equilibria.

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  • Hehenkamp, Burkhard & Kaarbøe, Oddvar M., 2004. "Equilibrium selection in supermodular games with mean payoff technologies," Working Papers in Economics 08/04, University of Bergen, Department of Economics.
    • Handle: RePEc:hhs:bergec:2004_008
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    1. Per Svejstrup Hansen & Oddvar M. Kaarbøe, 2002. "Equilibrium selection in coordination games with simultaneous play," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(4), pages 793-807.
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    8. Kreps,David M. & Wallis,Kenneth F. (ed.), 1997. "Advances in Economics and Econometrics: Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521589833, September.
    9. Vives, Xavier, 1990. "Nash equilibrium with strategic complementarities," Journal of Mathematical Economics, Elsevier, vol. 19(3), pages 305-321.
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    Cited by:

    1. Kim, Chongmin & Wong, Kam-Chau, 2010. "Long-run equilibria with dominated strategies," Games and Economic Behavior, Elsevier, vol. 68(1), pages 242-254, January.

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    More about this item

    Keywords

    equilibrium selection; supermodular games; simultaneous play; best-response approximation;
    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

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