Mutual observability and the convergence of actions in a multi-person two-armed bandit model

• 成果类型: Article
• 署名作者: Aoyagi, M
• 署名单位: Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1006/jeth.1995.2450
• 发表日期: 1998
• 页码: 405-424
• 关键词: two-armed bandit; experimentation; mutual observability; Herd behavior

摘要

This paper studies a model of a two-armed bandit played in parallel by two or more players. Players observe the actions of all other players, but not the outcome of their experiments. It is shown that if the parameters of the two arms (i.e., their success probabilities) are different by a fixed margin, all players eventually settle on the same arm with probability one in any Nash equilibrium of the game. (C) 1998 Academic Press.