Quantal Response Equilibria for Normal Form Games
Abstract
We investigate the use of standard statistical models for quantal choice in a game theoretic setting. Players choose strategies based on relative expected utility and assume other players do so as well. We define a quantal response equilibrium (ORE) as a fixed point of this process and establish existence. For a logit specification of the error structure, we show that as the error goes to zero, QRE approaches a subset of Nash equilibria and also...
Paper Details
Title
Quantal Response Equilibria for Normal Form Games
Published Date
Jul 1, 1995
Journal
Volume
10
Issue
1
Pages
6 - 38
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