The survival value of assuming others to be rational
AbstractI study the evolution of rationality, using an indirect evolutionary approach, in which nature selects a decision-making procedure, and the procedure chooses actions in matching-games. The main result is that in order for (knowledge of) rationality to survive, it is necessary and sufficient that the rational procedure respects the attraction principle. That is, when a rational agent eliminates a strictly dominated action A, he should only increase the choice probability of the actions actually dominating A and not change the choice probability of other undominated actions. The attraction principle sharpens gametheoretic predictions. Attraction effects have been verified in psychological experiments.
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Bibliographic InfoArticle provided by Springer in its journal International Journal of Game Theory.
Volume (Year): 29 (2000)
Issue (Month): 2 ()
Note: Received: November 1997/Final version: January 2000
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Web page: http://link.springer.de/link/service/journals/00182/index.htm
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- Mohlin, Erik, 2010.
"Evolution of Theories of Mind,"
Working Paper Series in Economics and Finance
0728, Stockholm School of Economics, revised 12 May 2010.
- Heller, Yuval, 2012.
"Three steps ahead,"
40714, University Library of Munich, Germany.
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