Häfner, Samuel. (2018) Stable Biased Sampling. Games and Economic Behavior, 107. pp. 109-122.
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Official URL: https://edoc.unibas.ch/61357/
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Abstract
This paper analyzes an indirect evolutionary model of sampling biases in probability estimates, which combines the sampling best response dynamics with the replicator dynamics. The arrival rate of revision opportunities in the best response dynamics is high, so that the resulting joint dynamical system is a slow-fast system and we can use Tikhonov's theorem to study its solutions, employing practical asymptotic stability as a stability criterion. For two-strategy population games with a unique Nash equilibrium that is in mixed strategies, we find that the stable sampling bias is generically non-zero and that it is highest when the equilibrium is most asymmetric, yet that the stable sampling bias vanishes in the sample size.
Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Mikroökonomische Theorie (Nöldeke) |
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UniBasel Contributors: | Häfner, Samuel |
Item Type: | Article, refereed |
Article Subtype: | Research Article |
Publisher: | Elsevier |
ISSN: | 0899-8256 |
e-ISSN: | 1090-2473 |
Note: | Publication type according to Uni Basel Research Database: Journal article |
Identification Number: | |
Last Modified: | 09 May 2018 12:11 |
Deposited On: | 09 May 2018 12:11 |
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