A Characterization of Melioration in Game Theoretic Frameworks
The theory of melioration, originally formulated for individual decision-making contexts, is formally extended to a game theoretic framework. This paper proves the existence of a distribution that is a melioration strategy on the part of all players. Further, the question of stability of such a distribution is studied.
|Date of creation:||Oct 2001|
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- de Palma, Andre & Myers, Gordon M & Papageorgiou, Yorgos Y, 1994. "Rational Choice under an Imperfect Ability to Choose," American Economic Review, American Economic Association, vol. 84(3), pages 419-440, June.
- Read, Daniel & Loewenstein, George & Rabin, Matthew, 1999. "Choice Bracketing," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 171-197, December.
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