Equilibria | Passive beliefs | Responsive beliefs |
---|---|---|
\(\epsilon = 0.1\) | \(P=x=\Pi =0\) | \(P=0.21\) \(x=0.698\) \(\Pi =0.293\) |
\(\epsilon = 0.05\) | \(P=x=\Pi =0\) | \(P=0.21\) \(x=0.647\) \(\Pi =0.291\) |
\(\epsilon = 0.01\) | \(P=x=\Pi =0\) | \(P=0.24\) \(x=0.599\) \(\Pi =0.287\) |
\(\epsilon = 0.005\) | \(P=x=\Pi =0\) | \(P=0.22\) \(x=0.672\) \(\Pi =0.296\) |
\(\epsilon = 0.001\) | \(P=0.215\) \(x=0.685\) \(\Pi =0.294\) | \(P=0.136\) \(x=0.8375\) \(\Pi =0.228\) |