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Sampling equilibrium through descriptive simulations

Ramsza, M.; (2006) Sampling equilibrium through descriptive simulations. (ELSE Working Papers 180). ESRC Centre for Economic Learning and Social Evolution: London, UK. Green open access

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Abstract

A definition of sampling equilibrium was introduced in (Osborne and Rubinstein 1998). A dynamic version of the model was introduced in (Sethi 2000). However, a descriptive simulation based on the above idea of procedural rationality (i.e. using the same algorithm of behavior) gave different results, than those achieved in (Osborne and Rubinstein 1998) and (Sethi 2000). The simulation was a starting point for new definitions of both sampling dynamics and sampling equilibrium.

Type: Working / discussion paper
Title: Sampling equilibrium through descriptive simulations
Open access status: An open access version is available from UCL Discovery
Publisher version: http://else.econ.ucl.ac.uk/newweb/papers.php#2006
Language: English
Keywords: Bounded rationality, sampling procedure, evolution
UCL classification: UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Maths and Physical Sciences > Dept of Mathematics
URI: https://discovery.ucl.ac.uk/id/eprint/14555
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