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Title: | The Theory of Learning in Games |
Author: | Drew Fudenberg and David K. Levine |
Publisher: | MIT Press |
Year: | 1998 |
ISBN: | 0262061945 |
Abstract: | In economics, most noncooperative game theory has focused on equilibrium in games, especially Nash equilibrium and its refinements. The traditional explanation for when and why equilibrium arises is that it results from analysis and introspection by the players in a situation where the rules of the game, the rationality of the players, and the players' payoff functions are all common knowledge. Both conceptually and empirically, this theory has many problems. In The Theory of Learning in Games Drew Fudenberg and David Levine develop an alternative explanation that equilibrium arises as the long-run outcome of a process in which less than fully rational players grope for optimality over time. The models they explore provide a foundation for equilibrium theory and suggest useful ways for economists to evaluate and modify traditional equilibrium concepts. |
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@Book{fudenberg98a,
author = {Drew Fudenberg and David K. Levine},
title = {The Theory of Learning in Games},
googleid = {PnrZxufOknwJ:scholar.google.com/},
publisher = {{MIT} Press},
year = 1998,
abstract = {In economics, most noncooperative game theory has
focused on equilibrium in games, especially Nash
equilibrium and its refinements. The traditional
explanation for when and why equilibrium arises is
that it results from analysis and introspection by
the players in a situation where the rules of the
game, the rationality of the players, and the
players' payoff functions are all common
knowledge. Both conceptually and empirically, this
theory has many problems. In The Theory of Learning
in Games Drew Fudenberg and David Levine develop an
alternative explanation that equilibrium arises as
the long-run outcome of a process in which less than
fully rational players grope for optimality over
time. The models they explore provide a foundation
for equilibrium theory and suggest useful ways for
economists to evaluate and modify traditional
equilibrium concepts.},
keywords = {game-theory learning textbook},
isbn = {0262061945},
cluster = {8976464502171728446}
}
Last modified: Wed Mar 9 10:14:31 EST 2011