English, Article, Journal or magazine article edition: A General Class of Adaptative Strategies Sergiu Hart; Andreu Mas-Colell

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Bookmark: http://trove.nla.gov.au/version/154773
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A General Class of Adaptative Strategies
Author
  • Sergiu Hart
  • Andreu Mas-Colell
Physical Description
  • preprint
Notes
  • We exhibit and characterize an entire class of simple adaptive strategies, in the repeated play of a game, having the Hannan-consistency property: In the long-run, the player is guaranteed an average payoff as large as the best-reply payoff to the empirical distribution of play of the other players; i.e., there is no "regret." Smooth fictitious play (Fudenberg and Levine [1995]) and regret-matching (Hart and Mas-Colell [1998]) are particular cases. The motivation and application of this work come from the study of procedures whose empirical distribution of play is, in the long-run, (almost) a correlated equilibrium. The basic tool for the analysis is a generalization of Blackwell's [1956a] approachability strategy for games with vector payoffs.
  • Adaptive strategies, approachability, correlated equilibrium, fictitious play, regret
  • RePEc:upf:upfgen:373
Language
  • English
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