Advanced Search
MyIDEAS: Login to save this article or follow this journal

Bounded Rationality, Neural Network and Folk Theorem in Repeated Games with Discounting

Contents:

Author Info

  • Cho, In-Koo
Registered author(s):

    Abstract

    The perfect folk theorem (Fudenberg and Maskin, 1986) need not rely on excessively complex strategies. We recover the perfect folk theorem for two person repeated games with discounting through neural networks (Hopfield, 1982) that have finitely many associative units. For any individually rational payoff vector, we need neural networks with at most seven associative units, each of which can handle only elementary calculations such as maximum, minimum or threshold operation. The uniform upper bound of the complexity of equilibrium strategies differentiates this paper from Ben-Porath and Peleg (1987) in which we need to admit ever more complex strategies in order to expand the set of equilibrium outcomes.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by Springer in its journal Economic Theory.

    Volume (Year): 4 (1994)
    Issue (Month): 6 (October)
    Pages: 935-57

    as in new window
    Handle: RePEc:spr:joecth:v:4:y:1994:i:6:p:935-57

    Contact details of provider:
    Web page: http://link.springer.de/link/service/journals/00199/index.htm

    Order Information:
    Web: http://link.springer.de/orders.htm

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Barr, Jason & Saraceno, Francesco, 2002. "A computational theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 345-361, November.
    2. Jason Barr & Francesco Saraceno, 2004. "Organization, Learning and Cooperation," Sciences Po publications 2004-001, Sciences Po.
    3. repec:spo:wpecon:info:hdl:2441/6782 is not listed on IDEAS
    4. Horaguchi, Haruo, 1996. "The role of information processing cost as the foundation of bounded rationality in game theory," Economics Letters, Elsevier, vol. 51(3), pages 287-294, June.
    5. Sent, Esther-Mirjam, 2004. "The legacy of Herbert Simon in game theory," Journal of Economic Behavior & Organization, Elsevier, vol. 53(3), pages 303-317, March.
    6. repec:spo:wpecon:info:hdl:2441/9832 is not listed on IDEAS
    7. Barlo, Mehmet & Carmona, Guilherme & Sabourian, Hamid, 2009. "Repeated games with one-memory," Journal of Economic Theory, Elsevier, vol. 144(1), pages 312-336, January.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:4:y:1994:i:6:p:935-57. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.