This paper discusses the implications of learning theory for the analysis of Bayesian games. One goal is to illuminate the issues that arise when modeling situations where players are learning about the distribution of Nature’s move as well as learning about the opponents’ strategies. A second goal is to argue that quite restrictive assumptions are necessary to justify the concept of Nash equil...

We consider Salim Rashid’s asymptotic version of David Schmeidler’s theorem on the purification of Nash equilibria. We show that, in contrast to what is stated, players’ payoff functions have to be selected from an equicontinuous family in order for Rashid’s theorem to ∗I wish to thank Mário Páscoa and Myrna Wooders for very helpful comments. All remaining errors are, of course, mine. †Address:...

We revisit the topic of the mean field ground state of a spin-1 atomic condensate inside a uniform magnetic field (B) under the constraints that both the total number of atoms (N) and the magnetization (M) are conserved. In the presence of an internal state (spin component) independent trap, we also investigate the dependence of the so-called single spatial mode approximation (SMA) on the magni...

We analyze whether different learning abilities of firms with respect to general equilibrium effects lead to different levels of unemployment. We consider a general equilibrium model where firms in one sector compete à la Cournot and a real wage rigidity leads to unemployment. If firms consider only partial equilibrium effects when choosing quantities, the observation of general equilibrium fee...

This paper studies a machine (finite automaton) game for a two-player extensive-form stage game. We introduce a new measure ofstrategic complexity called “multiple complexity”, which considers in-formation structure inside the stage games as well as the number ofstates of machines. In contrast to Piccione and Rubinstein (1993),we prove existence of non-static equilibria....

In an equilibrium chemical reaction mixture, the number of molecules present obeys a Poisson distribution. We ask when the same is true of the steady state of a nonequilibrium reaction network and obtain an essentially complete answer. In particular, we show that networks with certain topological features must have a Poisson distribution, whatever the reaction rates. Such driven systems also ob...

A statistical mechanical model for the switching mechanism of photoinduced magnetization is proposed making use of dynamics of magnetization in the circumstance with the metastable structure. As a typical model with metastability, the equilibrium and nonequilibrium properties of the Blume-Capel (BC) model have studied. We demonstrate reversible changes of magnetization corresponding to the chan...

This paper presents a long run analysis of industry behavior allowing for entry and exit, and cost heterogeneity among firms. Treating the number of firms as endogenous provides linkages between firms’ conduct (reflecting the exercise of market power) and market structure. In steady state equilibrium, the implications of cost structure for market equilibrium price, firms’ conduct and industry c...

This paper provides a non-steady state general equilibrium foundation for the transactions demand for money going back to Baumol (1952) and Tobin (1956). In our economy, money competes against real capital as a store of value. We prove existence of a monetary general equilibrium in which both real capital and at money are voluntarily held over time. The demand for money is generated by xed tran...

The paper studies infinite repetition of finite strategic form games. Players use a backward looking learning behavior and face bounds on their cognitive capacities. We show that for any given belief-probability over the set of possible outcomes where players have no experience, games can be payoff classified and there always exists a stationary state in the space of action profiles. In particu...