BELIEF AFFIRMING IN LEARNING-PROCESSES

Authors
MONDERER D SAMET D SELA A
Citation
D. Monderer et al., BELIEF AFFIRMING IN LEARNING-PROCESSES, Journal of economic theory, 73(2), 1997, pp. 438-452
Citations number
16
Categorie Soggetti
Economics
Journal title
Journal of economic theory → ACNP
ISSN journal
00220531
Volume
73
Issue
2
Year of publication
1997
Pages
438 - 452
Database
ISI
SICI code
0022-0531(1997)73:2<438:BAIL>2.0.ZU;2-0
Abstract
A learning process is belief affirming if the difference between a pla yer's expected payoff in the next period, and the average of his or he r past payoffs converges to zero. We show that every smooth discrete f ictitious play and every continuous fictitious play is belief affirmin g. We also provide conditions under which general averaging processes are belief affirming. (C) 1997 Academic Press.