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The survival value of assuming others to be rational

Author

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  • Johan Stennek

    () (The Research Institute for Industrial Economics and CEPR, Box 5501, S-114 85 Stockholm, Sweden)

Abstract

I study the evolution of rationality, using an indirect evolutionary approach, in which nature selects a decision-making procedure, and the procedure chooses actions in matching-games. The main result is that in order for (knowledge of) rationality to survive, it is necessary and sufficient that the rational procedure respects the attraction principle. That is, when a rational agent eliminates a strictly dominated action A, he should only increase the choice probability of the actions actually dominating A and not change the choice probability of other undominated actions. The attraction principle sharpens gametheoretic predictions. Attraction effects have been verified in psychological experiments.

Suggested Citation

  • Johan Stennek, 2000. "The survival value of assuming others to be rational," International Journal of Game Theory, Springer;Game Theory Society, vol. 29(2), pages 147-163.
  • Handle: RePEc:spr:jogath:v:29:y:2000:i:2:p:147-163
    Note: Received: November 1997/Final version: January 2000
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    Citations

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    Cited by:

    1. Heller, Yuval, 2015. "Three steps ahead," Theoretical Economics, Econometric Society, vol. 10(1), January.
    2. Mohlin, Erik, 2012. "Evolution of theories of mind," Games and Economic Behavior, Elsevier, vol. 75(1), pages 299-318.
    3. Heller, Yuval & Mohlin, Erik, 2014. "Coevolution of Deception and Preferences: Darwin and Nash Meet Machiavelli," MPRA Paper 58255, University Library of Munich, Germany.

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