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Games with Procedurally Rational Players Author info | Abstract | Publisher info | Download info | Related research | Statistics Martin J. Osborne
Ariel Rubinstein
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We study interactive situations in which players are boundedly ra- tional. Each player, rather than optimizing given a belief about the other players' behavior. as in the theory of Nash equilibrium, uses the following choice procedure. She first associates one consequence with each of her actions by sampling (literally or virtually) each of her actions once. Then she chooses the action that has the best consequence. We define a notion of equilibrium for such situations and study its properties.
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Paper provided by McMaster University in its series Department of Economics Working Papers with number
1997-02.
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Length: 25 pages
Date of creation: Feb 1997Date of revision:
Handle: RePEc:mcm:deptwp:1997-02Contact details of provider:
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Keywords: Other versions of this item:
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.:
Rosenthal, Robert W, 1989.
"A Bounded-Rationality Approach to the Study of Noncooperative Games ,"
International Journal of Game Theory ,
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McKelvey Richard D. & Palfrey Thomas R., 1995.
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Games and Economic Behavior ,
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[Downloadable!] (restricted)
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.
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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)
Other versions:
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.)
Ran Spiegler, 2005.
"Competition over Agents with Boundedly Rational Expectations ,"
Levine's Bibliography
122247000000000535, UCLA Department of Economics.
[Downloadable!]
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: Steffen Huck & Rajiv Sarin, 2000.
"Players with Limited Memory ,"
Econometric Society World Congress 2000 Contributed Papers
1645, Econometric Society.
[Downloadable!]
Other versions: 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!]
Ran Spiegler, 2001.
"Testing Threats in Repeated Games ,"
Economics Working Papers
0009, Institute for Advanced Study, School of Social Science.
[Downloadable!]
J. C. R. Alcantud & Carlos Alós-Ferrer, 2002.
"Choice-Nash Equilibria ,"
Vienna Economics Papers
0209, University of Vienna, Department of Economics.
[Downloadable!]
Ariel Rubinstein & Rani Spiegler, 2005.
"Money Pumps in the Market ,"
Levine's Bibliography
122247000000000941, UCLA Department of Economics.
[Downloadable!]
Rani Spiegler, 2005.
"The Market for Quacks ,"
Levine's Bibliography
784828000000000634, UCLA Department of Economics.
[Downloadable!]
Ariel Rubinstein, 2007.
"Instinctive and Cognitive Reasoning: Response Times Study ,"
Levine's Bibliography
321307000000001011, UCLA Department of Economics.
[Downloadable!]
Philippe Jeniel, 2001.
"Analogy-Based Expectation Equilibrium ,"
Economics Working Papers
0003, Institute for Advanced Study, School of Social Science.
[Downloadable!]
Other versions:
Philippe Jehiel, 2005.
"Analogy-Based Expectation Equilibrium ,"
Levine's Bibliography
784828000000000106, UCLA Department of Economics.
[Downloadable!] Jehiel, Philippe, 2005.
"Analogy-based expectation equilibrium ,"
Journal of Economic Theory ,
Elsevier, vol. 123(2), pages 81-104, August.
[Downloadable!] (restricted) Droste, E. & Kosfeld, M. & Voorneveld, M., 1998.
"Regret equilibria in games ,"
Discussion Paper
19, Tilburg University, Center for Economic Research.
[Downloadable!]
Bruno S. Frey & Alois Stutzer, .
"Beyond Outcomes: Measuring Procedural Utility ,"
IEW - Working Papers
iewwp076, Institute for Empirical Research in Economics - IEW.
[Downloadable!]
Other versions:
Bruno Frey & Alois Stutzer, 2002.
"Beyond Outcomes: Measuring Procedural Utility ,"
Berkeley Olin Program in Law & Economics, Working Paper Series
1062, Berkeley Olin Program in Law & Economics.
[Downloadable!] Bruno S. Frey & Alois Stutzer, 2005.
"Beyond outcomes: measuring procedural utility ,"
Oxford Economic Papers ,
Oxford University Press, vol. 57(1), pages 90-111, January.
[Downloadable!] (restricted) 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)
Bruno Frey & Alois Stutzer, 2001.
"Beyond Bentham -- Measuring Procedural Utility ,"
CESifo Working Paper Series
CESifo Working Paper No. , CESifo GmbH.
[Downloadable!]
B. Luppi, 2006.
"Price Competition over Boundedly Rational Agents ,"
Working Papers
565, Dipartimento Scienze Economiche, Università di Bologna.
[Downloadable!]
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!]
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!]
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