Low rationality, Game Theory

 

One charm of evolutionary game theory is that it permits for relaxation of the normal fully-informed rational actor assumption. People, or agents, are assumed to be myopic, within the sense that strategy choice is driven by natural choice, imitation, or genetics, and not inductive reasoning. Nevertheless, in several settings, evolutionary approaches reaffirm ancient answer ideas because the population, eventually, plays Nash equilibrium methods.

 

Posted Date: 7/21/2012 3:55:25 AM | Location : United States







Related Discussions:- Low rationality, Assignment Help, Ask Question on Low rationality, Get Answer, Expert's Help, Low rationality Discussions

Write discussion on Low rationality
Your posts are moderated
Related Questions
An auction associates who submits offers (or bids) to sale or buy  the goods being auctioned.

Identification is closely related to the estimation of the model. If an equation is identified, its coefficient can, in general, be statistically estimated. In particula

scenario A wife and husband ready to meet this evening, but cannot remember if they will be attending the opera or a boxing match. Husband prefers the boxing match and wife pref

Two animals are fighting over a prey. The prey is worth v to each animal. The cost of fighting is c1 for the first animal (player 1) and c2 for the second animal (player 2). If the

Two individuals use a common resource (a river or a forest, for example) to produce output. The more the resource is used, the less output any given individual can produce. Denote

Consider the situation in which Player M is an INCUMBENT monopolist in an industry, which makes a profit of $10m if left to enjoy its privileged position undisturbed. Player P is a

A method by that players assume that the methods of their opponents are randomly chosen from some unknown stationary distribution. In every amount, a player selects her best respon

A type of auction in which the highest bidder is rewarded the object, but all bidders pay the auctioneer their bids. This differs from traditional first price auctions in which onl

The interaction among rational, mutually aware players, where the choices of some players impacts the payoffs of others. A game is described by its players, every player's methods,

(a) Draw a table representing the Prisoner?s Dilemma game. (b) Give a story inspired by real life for the prisoner?s dilemma game that is di¤erent from the story about the two crim