strategic equilibria
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2009 ◽  
Vol 11 (04) ◽  
pp. 479-489
Author(s):  
DIMITRIOS P. TSOMOCOS ◽  
DIMITRIS VOLIOTIS

We analyze a market game where traders are heterogeneous with respect to their rationality level and have asymmetric information. The market mechanism results into a statistical equilibrium, where traders randomise among their available actions due to their limited rationality. We provide a necessary and sufficient condition for convergence of statistical to strategic equilibria of market games, when traders become more informed and increasingly more rational.


Author(s):  
Nicolas Troquard ◽  
Wiebe van der Hoek ◽  
Michael Wooldridge

2006 ◽  
Vol 08 (04) ◽  
pp. 533-553 ◽  
Author(s):  
EMMA MORENO-GARCÍA

In this paper, we consider a pure exchange economy with a finite number of agents who behave strategically on endowments. A notion of strategic equilibrium with partial disposability is defined and it is shown the existence of mixed strategies equilibria. Purification results on the strategic equilibrium are obtained by considering a Walrasian endowment game with incomplete information. Finally, we obtain an asymptotic result by replicating the economy.


2000 ◽  
Vol 30 (2) ◽  
pp. 183-215 ◽  
Author(s):  
Jürgen Eichberger ◽  
David Kelsey
Keyword(s):  

1999 ◽  
Vol 11 (5) ◽  
pp. 1199-1209
Author(s):  
Samy Bengio ◽  
Yoshua Bengio ◽  
Jacques Robert ◽  
Gilles Bélanger

This article presents a new application of stochastic adaptive learning algorithms to the computation of strategic equilibria in auctions. The proposed approach addresses the problems of tracking a moving target and balancing exploration (of action space) versus exploitation (of better modeled regions of action space). Neural networks are used to represent a stochastic decision model for each bidder. Experiments confirm the correctness and usefulness of the approach.


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