Showing 1 - 2 of 2
Traditional game theory studies strategic interactions in which the agents make rational decisions. Evolutionary game theory differs in two key respects: the focus is on large populations of individuals who interact at random rather than on small numbers of players; and individuals are assumed...
Persistent link: https://www.econbiz.de/10014025453
Social norms are customary or ideal forms of behavior to which individuals in a group try to conform. From an analytical standpoint, the key feature of social norms is that they induce a positive feedback loop between individual and group behavior: the more widely that a norm is practiced by...
Persistent link: https://www.econbiz.de/10014025695