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Doubts and equilibria


  • Antonio Cabrales


  • José-Ramón Uriarte



In real life strategic interactions decision-makers are likely to entertain doubts about the degree of optimality of their play. To capture this feature of real choice-making, we present a model based on the doubts felt by an agent about how well is playing a game. The doubts are coupled with (and mutually reinforced by) imperfect discrimination capacity, which we model by means of similarity relations. These cognitive features, together with an adaptive learning process guiding agents’ choice behavior leads to doubt-based selection dynamic systems. We introduce the concept of Mixed Strategy Doubt Equilibrium and study its relationship with the Nash equilibrium concept. Copyright Springer-Verlag 2013

Suggested Citation

  • Antonio Cabrales & José-Ramón Uriarte, 2013. "Doubts and equilibria," Journal of Evolutionary Economics, Springer, vol. 23(4), pages 783-810, September.
  • Handle: RePEc:spr:joevec:v:23:y:2013:i:4:p:783-810
    DOI: 10.1007/s00191-012-0269-1

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    References listed on IDEAS

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    5. JosÊ RamÕn Uriarte, 1999. "Decision-making under risk: Editing procedures based on correlated similarities, and preference overdetermination," Review of Economic Design, Springer;Society for Economic Design, vol. 4(1), pages 1-12.
    6. Ken Binmore & Larry Samuelson, 1999. "Evolutionary Drift and Equilibrium Selection," Review of Economic Studies, Oxford University Press, vol. 66(2), pages 363-393.
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    8. Aizpurua, J M & Ichiishi, T. & Nieto, J. & Uriarte, J. R., 1993. "Similarity and Preferences in the Space of Simple Lotteries," Journal of Risk and Uncertainty, Springer, vol. 6(3), pages 289-297, June.
    9. Ignacio Palacios-Huerta, 2003. "Professionals Play Minimax," Review of Economic Studies, Oxford University Press, vol. 70(2), pages 395-415.
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    12. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
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    15. Uriarte Ayo, José Ramón, 2005. "A Behavioral Foundation for Models of Evolutionary Drift," IKERLANAK 2005-19, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
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    Cited by:

    1. Juan Carlos Bárcena‐Ruiz & Máximo Sedano, 2011. "Endogenous Timing In A Mixed Duopoly: Weighted Welfare And Price Competition," The Japanese Economic Review, Japanese Economic Association, vol. 62(4), pages 485-503, December.
    2. Iriberri Etxebeste, Nagore & Uriarte Ayo, José Ramón, 2011. "Minority Language and the Stability of Bilingual Equilibria," IKERLANAK 2011-45, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.

    More about this item


    Adaptive behavior; Doubts; Similarities relations; C72; D70; D78;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games


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