Scandinavian Working Papers in Economics

Working Papers in Economics,
University of Bergen, Department of Economics

No 08/04: Equilibrium selection in supermodular games with mean payoff technologies

Burkhard Hehenkamp () and Oddvar M. Kaarbøe ()
Additional contact information
Burkhard Hehenkamp: Department of Economics, University of Dortmund, Postal: D-44221 Dortmund, Germany
Oddvar M. Kaarbøe: Programme for Health Economics (HEB), University of Bergen, Department of Economics, Postal: Hermann Fossgt. 6, N-5007 Bergen, Norway

Abstract: We examine an evolutionary model of equilibrium selection, where all individuals interact with each other, recurrently playing a strictly supermodular game. Individuals play (myopic) best responses to the current population profile, occa- sionally they pick an arbitrary strategy at random. To address the robustness of equilibrium selection in this simultaneous play scenario, we investigate whether different best-response approximations can lead to different long run equilibria.

Keywords: equilibrium selection; supermodular games; simultaneous play; best-response approximation

JEL-codes: C72; C73

20 pages, November 10, 2004

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08-04.pdf PDF-file Full text

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