Local Interactions and p-Best Response Set
We study a local interaction model where agents play a finite n-person game following a perturbed best-response process with inertia. We consider the concept of minimal p-best response set to analyze distributions of actions on the long run. We distinguish between two assumptions made by agents abou...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2014-01-01
|
| Series: | Journal of Applied Mathematics |
| Online Access: | http://dx.doi.org/10.1155/2014/415686 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | We study a local interaction model where agents play a finite n-person game following a perturbed best-response process with inertia. We consider the concept of minimal p-best response set to analyze distributions of actions on the long run. We distinguish between two assumptions made by agents about the matching rule. We show that only actions contained in the minimal p-best response set can be selected provided that p is sufficiently small. We demonstrate that these predictions are sensitive to the assumptions about the matching rule. |
|---|---|
| ISSN: | 1110-757X 1687-0042 |