Rationality , Game Theory

 

One of the foremost common assumptions created in game theory (along with common information of rationality). In its mildest kind, rationality implies that each player is motivated by maximizing his own payoff. in a very stricter sense, it implies that each player invariably maximizes his utility, therefore having the ability to perfectly calculate the probabilistic results of each action.

 

Posted Date: 7/21/2012 5:03:10 AM | Location : United States







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