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Conformity and Bounded Rationality in Games with Many Players

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Author Info

  • Cartwright, Edward

    (Department of Economics, University of Warwick)

  • Wooders, Myrna

    (Department of Economics, University of Warwick)

Abstract

Intepret a set of players all playing the same pure strategy and all with similar attributes as a society. Is it consistent with self interested behaviour for a population to organise itself into a relatively small number of societies? In a companion paper we characterized how large " must be, in terms of parameters describing individual games, for an equilibrium to exhibit conformity in pure strategies. In this paper we provide a wide class of games where such conformity is boundedly rational, that is, where " can be chosen to be small.

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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 687.

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Length: 26 pages
Date of creation: 2003
Date of revision:
Handle: RePEc:wrk:warwec:687

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  1. Edward Cartwright & Myrna Wooders, 2009. "On equilibrium in pure strategies in games with many players," International Journal of Game Theory, Springer, vol. 38(1), pages 137-153, March.
  2. Ehud Kalai, 2001. "Ex-Post Stability in Large Games," Discussion Papers 1351, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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Cited by:
  1. Cartwright, Edward, 2003. "Imitation and the Emergence of Nash Equilibrium Play in Games with Many Players," The Warwick Economics Research Paper Series (TWERPS) 684, University of Warwick, Department of Economics.
  2. Cartwright, Edward & Wooders, Myrna, 2003. "On Equilibrium in Pure Stategies in Games with Many Players," The Warwick Economics Research Paper Series (TWERPS) 686, University of Warwick, Department of Economics.
  3. Edward Cartwright & Myrna Wooders, 2008. "Behavioral Properties of Correlated Equilibrium; Social Group Structures with Conformity and Stereotyping," Vanderbilt University Department of Economics Working Papers 0814, Vanderbilt University Department of Economics.
  4. Azrieli, Yaron, 2009. "Categorizing others in a large game," Games and Economic Behavior, Elsevier, vol. 67(2), pages 351-362, November.

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