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In this paper we consider conventions as regularities in behavior which help to solve coordinationproblems in a society. These problems can be formalized as non-cooperative games with severalequilibria. We know that in such situations serious problems of equilibrium selection arise whichcannot...
Persistent link: https://www.econbiz.de/10005866758
Taking seriously the philosophical foundations of classical strategic theories of choice-making we scrutinize to what extent planning on on equilibrium strategies can be justified "eductively" among rational players and how this can be utilized to analyze games by their "game-like"...
Persistent link: https://www.econbiz.de/10005866970
This paper focuses on the uneasy alliance of rational choice and evolutionary explanations in modern economics. While direct evolutionary explanations of "optimality" rule out "purposeful" rational choice by assuming zero-intelligence and pure rational choice explanations leave no room for...
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Taking seriously the philosophical foundations of classical strategic theories of choice-making we scrutinize to what extent planning on equilibrium strategies can be justified "eductively" among rational players and how this can be utilizes to analyze games by their "game-like" sub-structures,...
Persistent link: https://www.econbiz.de/10005212312
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