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This working paper contains the slides of two invited lectures on the Epistemic Foundations of Game Theory, delivered …
Persistent link: https://www.econbiz.de/10008620313
This paper explores some of the consequences of adopting a modern subjective view of probability for game theory. The … characterizes game theory since the work of von Neumann and Morgenstern. Many of the distinctions that appear important in … conventional game theory (two-person versus n-person, zero-sum versus variable sum) appear unimportant in the subjective …
Persistent link: https://www.econbiz.de/10009214552
. Subjective probability and the theory of games. Management Sci. 28 113--120; Kadane, J. B., P. D. Larkey. 1982. Reply to … Professor Harsanyi. Management Sci. 28 124.) and Harsanyi (Harsanyi, J. C. 1982. Subjective probability and the theory of games … Larkey. Management Sci. 28 124--125.) on the relative usefulness of game theory and decision theory for analyzing decisions …
Persistent link: https://www.econbiz.de/10009218039
How do individual agents enact the institutions that govern collective behavior in a social situation? How do individuals come to share self-enforcing expectations about collective behavior, so that societal rules and constraints have an effect on individual choice? Conventional accounts, such...
Persistent link: https://www.econbiz.de/10009367614
No abstract.
Persistent link: https://www.econbiz.de/10010818361
This article develops a general method to solve dynamic models of interactions between multiple strategic agents that extends the static model studied previously by the authors. It describes a general model of several interacting agents, their domination relations as well as a graph encoding...
Persistent link: https://www.econbiz.de/10011170147
We test the effect of players' moods on their behavior in a gift-exchange game.In the first stage of the game, player 1 chooses a transfer to player 2.In the second stage, player 2 chooses an effort level.Higher effort is more costly for player 2, but it increases player 1's payoff.We say that...
Persistent link: https://www.econbiz.de/10011091714
In recent years, game theory is more often applied to analyse several sustainable development issues such as climate … framework of the evolutionary game theory that focuses more on the dynamics of strategy change influenced by the effect of the … classify the main problems of sustainable development on which the game theory could be applied and demonstrates that this …
Persistent link: https://www.econbiz.de/10011143250
noted. Conventional theory focuses on the<br/>question ‘how will rational players play?’, and has the Nash equilibrium at …) and relaxations (rationalizability and correlated equilibria).<br/>Motivated by experiments that show systematic theory … violations, behavioral game<br/>theory aims to integrate insights from psychology to get better answers to the<br/>question ‘how …
Persistent link: https://www.econbiz.de/10011144456
are solved, all based on the model of individual rationality. Invariably, these institutional solutions involve creating … complement, though not displace, that of individual rationality. …
Persistent link: https://www.econbiz.de/10009654090