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Program Equilibria and Discounted Computation Time

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  • Lance Fortnow
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    Abstract

    Tennenholtz (GEB 2004) developed Program Equilibrium to model play in a finite two-player game where each player can base their strategy on the other player's strategies. Tennenholtz's model allowed each player to produce a "loop-free" computer program that had access to the code for both players. He showed a folk theorem where any mixed-strategy individually rational play could be an equilibrium payo in this model even in a one-shot game. Kalai et al. gave a general folk theorem for correlated play in a more generic commitment model. We develop a new model of program equilibrium using general computational models and discounting the payo s based on the computation time used. We give an even more general folk theorem giving correlated-strategy payoffs down to the pure minimax of each player. We also show equilibrium in other games not covered by the earlier work.

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    Bibliographic Info

    Paper provided by Northwestern University, Center for Mathematical Studies in Economics and Management Science in its series Discussion Papers with number 1473.

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    Date of creation: Nov 2008
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    Handle: RePEc:nwu:cmsems:1473

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