Binary games with state dependent stochastic choice (Q1601452): Difference between revisions
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Revision as of 05:03, 5 March 2024
scientific article
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English | Binary games with state dependent stochastic choice |
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Binary games with state dependent stochastic choice (English)
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2002
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In this paper is studied a stochastic equilibrium selection model for binary coordination games. Adopting the process model introduced by Blume, in particular are considered a large class of probabilistic choice behavior. The main result of the paper contained in the Theorem 4.2 shows that selection outcome for a linear coordination game is determined by the balance of the risk dominance, the aspiration/imitation, and the externality effects. It is also shown the way these effects together determine the outcome.
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binary games
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probabilistic behavior
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selection outcome
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selection integral
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