Logit dynamics: a model for bounded rationality

  • Authors:
  • Diodato Ferraioli

  • Affiliations:
  • Université Paris Dauphine

  • Venue:
  • ACM SIGecom Exchanges
  • Year:
  • 2013

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Abstract

We describe logit dynamics, which are used to model bounded rationality in games, and their related equilibrium concept, the logit equilibrium. We also present some results about the convergence time of these dynamics and introduce a suitable approximation of the logit equilibrium. We conclude by describing some interesting future extensions to logit dynamics.