Doubts and Equilibria
Data(s) |
23/01/2012
23/01/2012
2008
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Resumo |
In real life strategic interactions, decision-makers are likely to entertain doubts about the degree of optimality of their play. To capture this feature of real choice-making, we present here a model based on the doubts felt by an agent about how well is playing a game. The doubts are coupled with (and mutually reinforced by) imperfect discrimination capacity, which we model here by means of similarity relations. We assume that each agent builds procedural preferences de ned on the space of expected payoffs-strategy frequencies attached to his current strategy. These preferences, together with an adaptive learning process lead to doubt-based selection dynamic systems. We introduce the concepts of Mixed Strategy Doubt Equilibria, Mixed Strategy Doubt-Full Equilibria and Mixed Strategy Doubtless Equilibria and show the theoretical and the empirical relevance of these concepts. |
Identificador |
http://hdl.handle.net/10810/6419 RePEc:ehu:ikerla:200831 |
Idioma(s) |
eng |
Relação |
Ikerlanak 2008.31 |
Direitos |
info:eu-repo/semantics/openAccess |
Tipo |
info:eu-repo/semantics/workingPaper |