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Vincent Boucher
''Selecting Equilibria using Best-Response Dynamics''
( 2017, Vol. 37 No.4 )
I propose a simple simulation procedure for large games with multiple equilibria. The simulation procedure is based on a best-response dynamic. The implied equilibrium selection mechanism is intuitive: more stable equilibria are selected with higher probability.
Keywords: Potential Games, Equilibrium Selection Mechanism, Basin of Attraction
JEL: C6 - Mathematical Methods and Programming: General
C1 - Econometric and Statistical Methods: General
Manuscript Received : Jun 19 2017 Manuscript Accepted : Dec 01 2017

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