Restricted attention, myoptic play, and the learning of equilibrium. (English) Zbl 0910.90281
Summary: We consider repeated play of noncooperative games in which agents have more decisions to consider at every stage than their attention allows. However, under a monotonicity assumption, if every variable is adjusted cyclically, as guided by marginal payoffs, then myopic steps lead to Nash equilibrium in the long run.
MSC:
91A20 | Multistage and repeated games |
91B24 | Microeconomic theory (price theory and economic markets) |
91A10 | Noncooperative games |