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Strategy is formally defined as a complete plan of action for every contingency in a game. Ideal agents can evaluate … contingencies. The objects of belief-revision policies are beliefs, not strategies and acts. Thus, the rationality of belief … recommendation of a strategy profile for a game (in terms of a solution concept), despite agents’ beliefs and corresponding acts …
Persistent link: https://www.econbiz.de/10011621369
We study a model where agents face a continuum of two-player games and categorize them into a finite number of situations to make sense of their complex environment. Agents need not share the same categorization. Each agent can cooperate or defect, conditional on the perceived category. The...
Persistent link: https://www.econbiz.de/10012015737
Standard equilibrium concepts in game theory find it difficult to explain the empirical evidence from a large number of static games, including the prisoner's dilemma game, the hawk-dove game, voting games, public goods games and oligopoly games. Under uncertainty about what others will do in...
Persistent link: https://www.econbiz.de/10011384070
The outcome of many social and economic interactions, such as stock-market transactions, is strongly determined by the predictions that agents make about the behavior of other individuals. Cognitive hierarchy theory provides a framework to model the consequences of forecasting accuracy that has...
Persistent link: https://www.econbiz.de/10011621332
between different representations of another agent is a very effective strategy. Testing different models of AI-ToM paves the …
Persistent link: https://www.econbiz.de/10014480871
dynamic games. To that purpose, we take the concepts of common belief in future rationality (Perea [1]) and extensive form …
Persistent link: https://www.econbiz.de/10009751974
unlimited bet size is modified to incorporate sequential rationality. …
Persistent link: https://www.econbiz.de/10010350891
In economic theory, an agent chooses from available alternatives-modeled as a set. In decisions in the field or in the lab, however, agents do not have access to the set of alternatives at once. Instead, alternatives are represented by the outside world in a structured way. Online search results...
Persistent link: https://www.econbiz.de/10012698098
player type corresponds to a belief over the profiles of opponent strategies and types. A Cartesian product X of pure-strategy …
Persistent link: https://www.econbiz.de/10011620518
The strategy method is often used in public goods games to measure an individual's willingness to cooperate depending … on the level of cooperation by their groupmates (conditional cooperation). However, while the strategy method is … of conditional cooperation. This problem was highlighted by two previous studies which found that the strategy method …
Persistent link: https://www.econbiz.de/10014418083