Download This PaperSelecting Equilibria Using Best-Response Dynamics
CRREP Working Paper Series 2017-09
11 Pages Posted: 20 May 2018
Date Written: September 1, 2017
Abstract
I propose a simple simulation procedure for large games with multiple equilibria. The simulation procedure is based on a best-response dynamic. The implied equilibrium selection mechanism is intuitive: more stable equilibria are selected with higher probability.
Keywords: Potential Games, Equilibrium Selection Mechanism, Basin of Attraction, Coordination Games
JEL Classification: C62, C72, C73
Suggested Citation: Suggested Citation
Boucher, Vincent, Selecting Equilibria Using Best-Response Dynamics (September 1, 2017). CRREP Working Paper Series 2017-09, Available at SSRN: https://ssrn.com/abstract=3175335 or http://dx.doi.org/10.2139/ssrn.3175335
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