The Behavioral Firm and Its Internal Game: Evolutionary Dynamics of Decision Making
In this paper the firm is analyzed and modeled as a set of different subcoalitions (agents) each with their own objectives. It examines how the goals can be conflicting and in turn how this influences the payoff structure of the subcoalitions given that they follow 'simple' decision rules, i.e. rules of thumb. This implies that the subcoalitions act in aboundedly rational way. To see how these decision making procedures evolve we make use of an (evolutionary) dynamic game theoretical framework. Consequently, the main aim is to address the issue of modeling the dynamic and adaptive nature of the subcoalitions.
|Date of creation:||Aug 1999|
|Date of revision:|
|Contact details of provider:|| Postal: A-2361 Laxenburg|
Web page: http://www.iiasa.ac.at/Publications/Catalog/PUB_ONLINE.html
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Y.M. Ermoliev & S.D. Flam, 1997. "Learning in Potential Games," Working Papers ir97022, International Institute for Applied Systems Analysis.
- Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
- Bendor, J. & Mookherjee, D. & Ray, D., 1994.
"Aspirations, adaptive learning and cooperation in repeated games,"
1994-42, Tilburg University, Center for Economic Research.
- Bendor, J. & Mookherjee, D. & Ray, D., 1994. "Aspirations, Adaptive Learning and Cooperation in Reapeted Games," Papers 27, Boston University - Department of Economics.
- Karandikar, Rajeeva & Mookherjee, Dilip & Ray, Debraj & Vega-Redondo, Fernando, 1998.
"Evolving Aspirations and Cooperation,"
Journal of Economic Theory,
Elsevier, vol. 80(2), pages 292-331, June.
- Borgers, Tilman & Sarin, Rajiv, 2000.
"Naive Reinforcement Learning with Endogenous Aspirations,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(4), pages 921-50, November.
- Tilman B�rgers & Rajiv Sarin, . "Naive Reinforcement Learning With Endogenous Aspiration," ELSE working papers 037, ESRC Centre on Economics Learning and Social Evolution.
- T. Borgers & R. Sarin, 2010. "Naïve Reinforcement Learning With Endogenous Aspirations," Levine's Working Paper Archive 381, David K. Levine.
- Tilman B�rgers & Rajiv Sarin, .
"Learning Through Reinforcement and Replicator Dynamics,"
ELSE working papers
051, ESRC Centre on Economics Learning and Social Evolution.
- Borgers, Tilman & Sarin, Rajiv, 1997. "Learning Through Reinforcement and Replicator Dynamics," Journal of Economic Theory, Elsevier, vol. 77(1), pages 1-14, November.
- T. Borgers & R. Sarin, 2010. "Learning Through Reinforcement and Replicator Dynamics," Levine's Working Paper Archive 380, David K. Levine.
- Itzhak Gilboa & David Schmeidler, 1996.
- Itzhak Gilboa & David Schmeidler, 1995.
"Case-Based Decision Theory,"
- A.V. Kryazhimskii & A.M. Tarasyev, 1998. "Equilibrium and Guaranteeing Solutions in Evolutionary Nonzero Sum Games," Working Papers ir98003, International Institute for Applied Systems Analysis.
- A.V. Kryazhimskii & A. Nentjes & S. Shibayev & A.M. Tarasyev, 1998. "Searching Market Equilibria under Uncertain Utilities," Working Papers ir98007, International Institute for Applied Systems Analysis.
- Itzhak Gilboa & David Schmeidler, 1993. "Case-Based Consumer Theory," Discussion Papers 1025, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
When requesting a correction, please mention this item's handle: RePEc:wop:iasawp:ir99036. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Krichel)
If references are entirely missing, you can add them using this form.