Satisficing Leads to Cooperation in Mutual Interests Games

We study the play of mutual interests games by satisficing decision makers. We show that, for a high enough initial aspiration level, and under certain assumptions of "tremble," there is a high probability (close to unity) of convergence to the Pareto dominant cooperative outcome. Simulations indicate that the theoretical result is robust with respect to the "trembling" mechanism

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Year of publication:	1998
Authors:	Pazgal, Amit
Publisher:	[S.l.] : SSRN
Subject:	Spieltheorie \| Game theory \| Kooperatives Spiel \| Cooperative game \| Begrenzte Rationalität \| Bounded rationality
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: International Game Theory, Vol. 26, No. 4 (1997) Volltext nicht verfügbar
Classification:	C70 - Game Theory and Bargaining Theory. General ; C71 - Cooperative Games
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014064644