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Evolving Aspirations and Cooperation Author info | Abstract | Publisher info | Download info | Related research | Statistics Karandikar, R.
Mokherjee, D.
Ray, D.
Vega-Redondo, F.
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A model of "satisficing" behavior in the repeated Prisoners Dilemma is studied. Each player has an aspiration at each date, and takes an action. (S)he switches from the action played in the previous period only if the achieved payoff fell below the aspiration level (with a probability that depends on the shortfall).
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Paper provided by Valencia - Instituto de Investigaciones Economicas in its series Papers with number
96-06.
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Length: 39 pages
Date of creation: 1996Date of revision:
Handle: RePEc:fth:valinv:96-06Contact details of provider: Postal: Instituto Valenciano de InvEstigaciones Economics, C/Guardia Civil, 22, Esc. 2, 1 46020 Valencia (Espana). Phone: +34 96 319 00 50 Fax: +34 96 319 00 55 Email: Web page: http://www.ivie.es/ More information through EDIRC
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Keywords: GAMES GAME THEORY Other versions of this item:
Article Karandikar, Rajeeva & Mookherjee, Dilip & Ray, Debraj & Vega-Redondo, Fernando, 1998.
"Evolving Aspirations and Cooperation ,"
Journal of Economic Theory ,
Elsevier, vol. 80(2), pages 292-331, June.
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