on the other players rationality is addressed within our multi-agent framework. We find that, if costs/payoffs act as …

The rationality of choices is one of the most fundamental assumptions of traditional economic analysis. Yet … rationality have been introduced in the literature to quantify the size of rationality violations. However, it is not clear which … between the different measures. Second, we develop methods to compute the most-used measures of rationality. Exploiting this …

There is abundant evidence that many individuals violate the rationality assumptions routinely made in economics …. However, powerful evidence also indicates that violations of individual rationality do not necessarily refute the aggregate … predictions of standard economic models that assume full rationality of all agents. Thus, a key question is how the interactions …

rationality, which we define axiomatically. Two axioms are considered. The first says that a player is irrational if she chooses a … rationality characterizes the iterated deletion of pure strategies that are strictly dominated by pure strategies. The second … that common knowledge of this stronger notion of rationality characterizes the restriction to pure strategies of the …