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The Complexity of Strategies and the Resolution of Conflict: An Introduction

In: Global Macroeconomics: Policy Conflict and Cooperation

Author

Listed:
  • Ariel Rubinstein

    (The Hebrew University of Jerusalem
    London School of Economics)

Abstract

Whenever we have to choose a rule of behaviour we are confronted with the following dilemma: on the one hand we would like the rule to serve our goals and interests in the best possible way, and on the other hand we would like the rule to be as simple (as uncomplicated) as possible. As economists, we very often feel that it is unreasonable to allow economic agents to choose arbitrary rules of behaviour. Frequently we restrict the set of feasible rules by omitting those which are ‘not simple enough’. However, it is only recently that economic theorists have begun to model explicitly the endogenous choice of complexity of rules of behaviour. It is the purpose of this paper to introduce the reader to some of these developments.

Suggested Citation

  • Ariel Rubinstein, 1987. "The Complexity of Strategies and the Resolution of Conflict: An Introduction," International Economic Association Series, in: Ralph C. Bryant & Richard Portes (ed.), Global Macroeconomics: Policy Conflict and Cooperation, chapter 2, pages 17-42, Palgrave Macmillan.
  • Handle: RePEc:pal:intecp:978-1-349-18916-8_2
    DOI: 10.1007/978-1-349-18916-8_2
    as

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