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Evolutionary stability of prospect theory preferences
Rieger, Marc Oliver - 2009
We demonstrate that in simple 2 X 2 games (cumulative) prospect theory preferences can be evolutionarily stable, i.e. a … population of players with prospect theory preferences can not be invaded by more rational players. This holds also if …
Persistent link: https://www.econbiz.de/10010272561
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Games and prospects
Rieger, Marc Oliver (contributor) - 2007
We study how the framework of classical game theory changes when the preferences of the players are described by … Prospect Theory instead of Expected Utility Theory. Specifically, we study the influence of framing effect and probability … the validity of Prospect Theory as a descriptive model in human behavior …
Persistent link: https://www.econbiz.de/10003550861
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Evolutionary stability of first price auctions
Louge, Fernando; Riedel, Frank - 2010
. -- Auction theory ; Evolutionary stability …
Persistent link: https://www.econbiz.de/10008736561
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Unbeatable imitation
Duersch, Peter; Oechssler, Joerg; Schipper, Burkhard - 2012
We show that for many classes of symmetric two-player games, the simple decision rule 'imitate-if-better' can hardly be beaten by any strategy. We provide necessary and sufficient conditions for imitation to be unbeatable in the sense that there is no strategy that can exploit imitation as a...
Persistent link: https://www.econbiz.de/10009544162
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Refined best reply correspondence and dynamics
Balkenborg, Dieter; Hofbauer, Josef; Kuzmics, Christoph - 2011
correspondence. -- Evolutionary game theory ; best response dynamics ; CURB sets ; persistent retracts ; asymptotic stability ; Nash …
Persistent link: https://www.econbiz.de/10009231404
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Evolution of cooperation with peer punishment under prospect theory
Uchida, Satoshi; Yamamoto, Hitoshi; Okada, Isamu; … - In: Games 10 (2019) 1/11, pp. 1-18
mechanisms to the dilemma in recent decades. Although punishment is thought to be a key mechanism, evolutionary game theory has … mechanism for the dilemma by incorporating prospect theory into evolutionary game theory. Prospect theory models human beings as …
Persistent link: https://www.econbiz.de/10012015563
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Evolutionary Stability of Prospect Theory Preferences
Rieger, Marc Oliver - Institut für Mathematische Wirtschaftsforschung, … - 2009
We demonstrate that in simple 2 X 2 games (cumulative) prospect theory preferences can be evolutionarily stable, i.e. a … population of players with prospect theory preferences can not be invaded by more rational players. This holds also if …
Persistent link: https://www.econbiz.de/10008479258
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Co-monotonicity of optimal investments and the design of structured financial products
Rieger, Marc Oliver - 2007
We study how the framework of classical game theory changes when the preferences of the players are described by … Prospect Theory instead of Expected Utility Theory. Specifically, we study the influence of framing effect and probability … validity of Prospect Theory as a descriptive model in human behavior. …
Persistent link: https://www.econbiz.de/10005222539
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Evolutionary Stability of Prospect Theory Preferences
Rieger, Marc Oliver - Institut für Schweizerisches Bankwesen <Zürich> - 2009
population of players withprospect theory preferences can not be invaded by more rational players. Thisholds also if probability …
Persistent link: https://www.econbiz.de/10005868526
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Equilibria in Games with Prospect Theory Preferences
Metzger, Lars P.; Rieger, Marc Oliver - Institut für Schweizerisches Bankwesen <Zürich> - 2009
We study how the framework of classical game theory changes whenthe preferences of the players are described by … Prospect Theory (PT)and Cumulative Prospect Theory (CPT) instead of Expected UtilityTheory. Specically, we study the inuence of …
Persistent link: https://www.econbiz.de/10005869074