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Journal of Economic Theory and Econometrics
Journal of the Korean Econometric Society
Correlation on Belief and Convergence to Nash Equilibrium in Repeated Games
Vol.18, No.4, December 2007, 52–61
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Jinwoo Kim
(School of Economics, Yonsei University, Korea)
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Abstract
This paper presents an example in which players never learn to play Nash equilibrium in the repeated games when one believes that others are correlating their strategies, though his belief satisfies `a grain of truth' condition. A sufficient condition on the learning procedure to restore the convergence is suggested and turns out to be quite demanding.
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Keywords
Repeated game, Bayesian learning, convergence to Nash equilibrium, correlation |
JEL classification codes
C72, D83 |
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