Stochastic simulation of sequential game-theory voting models |
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Authors: | Jeffrey S Rosenthal |
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Institution: | Department of Statistics, University of Toronto, Toronto, Ontario, Canada |
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Abstract: | We discuss the use of stochastic simulation as a tool to learn about optimal behavior and Nash equilibria of a sequential voting model proposed by Osborne, related to Duverger’s law. We introduce a graphical Java applet, which implements such simulations and investigates its properties. We show that in an appropriate setup, the applet is guaranteed to eventually find behavior, which is within ε of being optimal. |
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Keywords: | Game theory Multiple parties Nash equilibrium Stochastic simulation Voting model |
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