Abstract
Often, in both computerized settings and economics settings, the prescribed behavior for participants is to repeatedly "best respond" to each others' actions. We aim to understand when such myopic "local rationality" is also "globally rational", i.e., when is it best for a player, given that the others are repeatedly best-responding, to also repeatedly best-respond?
Original language | English |
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Article number | 2 |
Pages (from-to) | 16-18 |
Number of pages | 3 |
Journal | ACM SIGecom Exchanges |
Volume | 10 |
Issue number | 2 |
DOIs | |
State | Published - Jun 2011 |
Keywords
- Algorithms
- Economics
- Theory
- Mechanism Design
- Best-Response Dynamics