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evolutionary forces in games played repeatedly in large populations of boundedly rational agents. The approach is macro oriented …
Persistent link: https://www.econbiz.de/10005486499
We derive a family of probabilistic choice models including the multinomial logit model, from a microeconomic model in which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The disutility of this effort enters the decision maker's goal...
Persistent link: https://www.econbiz.de/10005639336
evolutionary forces in games played repeatedly in large populations of boundedly rational agents. The approach is macro oriented in …
Persistent link: https://www.econbiz.de/10010818398