Long-Run Behavior of Games with Many Players
2005, v.11, Issue 2, 371-388
We discuss similarities and differences between systems of many interacting players maximizing their individual payoffs and particles minimizing their interaction energy. We analyze long-run behavior of stochastic dynamics of many interacting agents in spatial and adaptive population games. We review results concerning the effect of the number of players and the noise level on the stochastic stability of Nash equilibria. In particular, we present examples of games in which when the number of players or the noise level increases, a population undergoes a transition between its equilibria.
Keywords: evolutionary game theory,Nash equilibria,stochastic adaptive dynamics,spatial games,equilibrium selection,long-run behavior,stochastic stability,ensemble stability