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Testing the TASP: An Experimental Investigation of Learning in Games with Unstable Equilibria

By Timothy N. Cason, Daniel Friedman and Ed Hopkins

Abstract

We report experiments studying mixed strategy Nash equilibria that are theoretically stable or unstable under learning. The Time Average Shapley Polygon (TASP) predicts behavior in the unstable case. We study two versions of Rock-Paper-Scissors that include a fourth strategy, Dumb. The unique Nash equilibrium is identical in the two games, but the predicted frequency of Dumb is much higher in the game where the NE is stable. Consistent with TASP, the observed frequency of Dumb is lower and play is further from Nash in the high payoff unstable treatment. However, Dumb is played too frequently in all treatments

Topics: games, experiments, TASP, learning, unstable, mixed equilibrium, fictitious play
Year: 2010
OAI identifier: oai:CiteSeerX.psu:10.1.1.187.2318
Provided by: CiteSeerX
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