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
Equilibrium payoffs a) The reward system changes payoffs for Player A, but does not change the equilibrium strategies in the game. Player A still takes the money at the fir

GAME 1 Claim a Pile of Dimes Two players Aand B are chosen. The instructor places a dime on the table. Player A can say Stop or Pass. If Stop, then A gets the dime and the gam

1.a.out 2 1 Here is the grid that has been generated: 1 1 1 0 0 0 0 0 1 1 0 1 0 0 1 1 1 1 0 0 1 1 1 1 0 1 1 0 0 1 1 0 0 1 0 1 1 1 1 1 1 0 1 0 1 1 0 1 0 1 1 1 0

1. Two firms, producing an identical good, engage in price competition. The cost functions are c 1 (y 1 ) = 1:17y 1 and c 2 (y 2 ) = 1:19y 2 , correspondingly. The demand functi

if the first three words are "the boy''s down" what are the last three words?

Two people are engaged in a joint project. If each person i puts in the effort xi, the outcome of the project is worth f(x1, x2). Each person’s effort level xi is a number between

The Cournot adjustment model, initial proposed by Augustin Cournot within the context of a duopoly, has players choose methods sequentially. In every amount, a firm selects the act

An item of information of data in a very game is common grasp ledge if all of the players realize it (it is mutual grasp ledge) and every one of the players grasp that each one dif

An equilibrium refinement provides how of choosing one or many equilibria from among several in a very game. several games might contain many Nash equilibria, and therefore supply

A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.