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Games with Procedurally Rational Players

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Author Info
Osborne, M-J
Rubinstein, A

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Abstract

We study equilibrium in games in which each player uses the procedure in which he associates a consequence with each of his actions and chooses the action that has the best consequence. The association may be stochastic but is not arbitrary : it reglects the other players' equilibrium behavior. We establish properties of an equilibrium and study some examples.

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Publisher Info
Paper provided by Tel Aviv in its series Papers with number 4-97.

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Length: 19 pages
Date of creation: 1997
Date of revision:
Handle: RePEc:fth:teavfo:4-97

Contact details of provider:
Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Phone: 972-3-640-9255
Fax: 972-3-640-5815
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Web page: http://econ.tau.ac.il/research/foerder.asp
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Related research
Keywords: GAMES ; STATISTICS;

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Rosenthal, Robert W, 1989. "A Bounded-Rationality Approach to the Study of Noncooperative Games," International Journal of Game Theory, Springer, vol. 18(3), pages 273-91.
  2. McKelvey Richard D. & Palfrey Thomas R., 1995. "Quantal Response Equilibria for Normal Form Games," Games and Economic Behavior, Elsevier, vol. 10(1), pages 6-38, July. [Downloadable!] (restricted)
  3. Rosenthal, Robert W., 1981. "Games of perfect information, predatory pricing and the chain-store paradox," Journal of Economic Theory, Elsevier, vol. 25(1), pages 92-100, August. [Downloadable!] (restricted)
  4. Chen, Hsiao-Chi & Friedman, James W. & Thisse, Jacques-Francois, 1997. "Boundedly Rational Nash Equilibrium: A Probabilistic Choice Approach," Games and Economic Behavior, Elsevier, vol. 18(1), pages 32-54, January. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Martin Osborne & Ariel Rubinstein, 2002. "A Sampling Equilibrium with an Application to Strategic Voting," Levine's Bibliography 506439000000000037, UCLA Department of Economics. [Downloadable!]
    Other versions:
  2. Steffen Huck & Rajiv Sarin, 2000. "Players with Limited Memory," Econometric Society World Congress 2000 Contributed Papers 1645, Econometric Society. [Downloadable!]
  3. Sebastian Goerg & Reinhard Selten, 2009. "Experimental investigation of stationary concepts in cyclic duopoly games," Experimental Economics, Springer, vol. 12(3), pages 253-271, September. [Downloadable!] (restricted)
  4. Philippe Jeniel, 2001. "Analogy-Based Expectation Equilibrium," Economics Working Papers 0003, Institute for Advanced Study, School of Social Science. [Downloadable!]
    Other versions:
  5. Droste, E. & Kosfeld, M. & Voorneveld, M., 1998. "Regret equilibria in games," Discussion Paper 19, Tilburg University, Center for Economic Research. [Downloadable!]
  6. Kobi Kriesler & Shmuel Nitzan, 2008. "Is Context-Based Choice due to Context-Dependent Preferences?," Theory and Decision, Springer, vol. 64(1), pages 65-80, February. [Downloadable!] (restricted)
  7. José Alcantud & Carlos Alós-Ferrer, 2007. "Nash equilibria for non-binary choice rules," International Journal of Game Theory, Springer, vol. 35(3), pages 455-464, February. [Downloadable!] (restricted)
  8. B. Luppi, 2006. "Price Competition over Boundedly Rational Agents," Working Papers 565, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
  9. Nicola Gennaioli & Andrei Shleifer, 2009. "What Comes to Mind," NBER Working Papers 15084, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  10. Ran Spiegler, 2001. "Testing Threats in Repeated Games," Economics Working Papers 0009, Institute for Advanced Study, School of Social Science. [Downloadable!]
  11. J. C. R. Alcantud & Carlos Alós-Ferrer, 2002. "Choice-Nash Equilibria," Vienna Economics Papers 0209, University of Vienna, Department of Economics. [Downloadable!]
  12. Bruno S. Frey & Alois Stutzer, . "Beyond Outcomes: Measuring Procedural Utility," IEW - Working Papers iewwp076, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
  13. Kobi Kriesler & Shmuel Nitzan, 2006. "Increasing sales by introducing non-salable items," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 27(8), pages 631-641. [Downloadable!]
  14. Ido Erev & Ira Glozman & Ralph Hertwig, 2008. "What impacts the impact of rare events," Journal of Risk and Uncertainty, Springer, vol. 36(2), pages 153-177, April. [Downloadable!] (restricted)
  15. Ariel Rubinstein & Rani Spiegler, 2005. "Money Pumps in the Market," Levine's Bibliography 122247000000000941, UCLA Department of Economics. [Downloadable!]
  16. Bruno Frey & Alois Stutzer, 2001. "Beyond Bentham -- Measuring Procedural Utility," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  17. Ortoleva, Pietro, 2008. "The Price of Flexibility: Towards a Theory of Thinking Aversion," MPRA Paper 12242, University Library of Munich, Germany. [Downloadable!]
  18. repec:bep:thecon:v:4:y:2004:i:1:p:1109-1109 is not listed on IDEAS
  19. Ariel Rubinstein, 2006. "Instinctive and Cognitive Reasoning: A Study of Response Times," Discussion Papers 1424, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  20. Ran Spiegler, 2005. "Competition over Agents with Boundedly Rational Expectations," Levine's Bibliography 122247000000000535, UCLA Department of Economics. [Downloadable!]
  21. Rani Spiegler, 2005. "The Market for Quacks," Levine's Bibliography 784828000000000634, UCLA Department of Economics. [Downloadable!]
  22. Ariel Rubinstein, 2006. "Instinctive and Cognitive Reasoning: A Study of Response Times," Working Papers 2006.36, Fondazione Eni Enrico Mattei. [Downloadable!]
  23. Marc Le Menestrel, 2003. "A One-Shot Prisoners’ Dilemma with Procedural Utility," Economics Working Papers 819, Department of Economics and Business, Universitat Pompeu Fabra. [Downloadable!]
  24. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: Response Times Study," Levine's Bibliography 321307000000001011, UCLA Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-20.


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