Waiting times and equilibrium selection

Summary. This paper shows how graphs can be used to calculate waiting times in models of equilibrium selection. It also shows how reducing the state space can simplify the calculations of both waiting times and selected equilibria. The results are applied to potential games and games with strategic complementarities.Received: 31 December 2002, Revised: 25 October 2003, JEL Classification Numbers: C72, C73.Alan Beggs: I am grateful to an anonymous referee for helpful comments.