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Adaptive learning in systems of interacting agents.

Abstract:

A learning rule is adaptive if it is simple to compute, requires little information about the actions of others, and is plausible as a model of behavior [1, 2]. In this paper I survey a family of adaptive learning rules in which experimentation plays a key role. These rules have the property that, in large classes of games, agents' individual behavior results in Nash equilibrium behavior by the group a high proportion of the time. Agents need not know that Nash equilibrium is being played - i...

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Publisher copy:
10.1007/978-3-642-10841-9_2

Authors


H. Peyton Young More by this author
Host title:
Internet and Network Economics
DOI:
URN:
uuid:cb9ab8c8-4c0d-428e-8a44-87e79a636854
Local pid:
oai:economics.ouls.ox.ac.uk:14943
Language:
English

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