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Lecture Series
Robert Gazzale
of Williams College
Visiting Scholar at ICES
Friday, May 2nd, from 4:00 to 5:30
The ICES lecture series will wrap up the semester with our visiting scholar, Robert Gazzale, who will present on some of the research he's conducted while here at Mason. Does the capacity to imitate facilitate convergence?
"Learning to Play Nash from the Best"
ABSTRACT (paper forthcoming)
This study experimentally investigates the effects of the ability to imitate successful others on convergence to the one-shot Nash equilibrium. I employ a generic two-player game (Potters and Suetens 2006) in which a single parameter determines the existence of strategic complementarities. I find that the ability to learn from high earning same-type players significantly improves convergence to the unique Nash equilibrium in the game without strategic complementarities. The results for games with strategic complementarities are subtler. The ability to learn from successful others has no significant effect when relatively few action combinations result in outcomes Pareto superior to equilibrium payoffs, but worsens equilibrium convergence when the scope for Pareto superior outcomes is large.
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