This paper proposes an aspiration-based model of bounded rationality, which is applied to a large-population context where agents are re-matched every period to play a Prisoner's Dilemma.
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Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number
345.96.
Find related papers by JEL classification: D64 - Microeconomics - - Welfare Economics - - - Altruism D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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