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We introduce a modification to the two-timescale games studied in the evolution of preferences (EOP) literature. In this modification, the strategic process occurring on the long timescale is learning by an individual across his or her lifetime, not natural selection operating on genomes over...
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Recent work has shown how information theory extends conventional full-rationality game theory to allow bounded rational agents. The associated mathematical framework can be used to solve distributed optimization and control problems. This is done by translating the distributed problem into an...
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It is known that a player in a noncooperative game can benefit by publicly re- stricting their possible moves before start of play. We show that, more generally, a player may benefit by publicly committing to pay an external party an amount that is contingent on the game's outcome. We explore...
Persistent link: https://www.econbiz.de/10008494074
We extend a recently introduced approach to the positive problem of game theory, Predictive Game Theory (PGT Wolpert (2008). In PGT, modeling a game results in a probability distribution over possible behavior profiles. This contrasts with the conventional approach where modeling a game results...
Persistent link: https://www.econbiz.de/10008494075
Conventionally, game theory predicts that the mixed strategy profile of players in a noncooperative game will satisfy some equilibrium concept. Relative probabil- ities of the strategy profiles satisfying the concept are unspecified, and all strategies not satisfying it are implicitly assigned...
Persistent link: https://www.econbiz.de/10008494079
A major factor affecting a person's happiness is the gap between their income and their neighbors', independent of their own income. This effect is strongest when the neighbor has moderately higher income. In addition a person's lifetime happiness often follows a "U" shape. Previous models have...
Persistent link: https://www.econbiz.de/10008494992
We consider the problem of designing (perhaps massively distributed) collectives of computational processes to maximize a provided "world utility" function. We consider this problem when the behavior of each process in the collective can be cast as striving to maximize its own payoff utility...
Persistent link: https://www.econbiz.de/10005047496