Games, goals, and bounded rationality

Theory and Decision 17 (2):149-175 (1984)
  Copy   BIBTEX

Abstract

A generalization of the standard n-person game is presented, with flexible information requirements suitable for players constrained by bounded rationality. Strategies (complete contingency plans) are replaced by "policies," i. e., end-mean pairs of candidate goals and "controls" (partial contingency plans). The existence of individual objective functions over the joint policy choice set is axiomatized in terms of primitive preference and probability orders. Conditions are given for the existence of pure policy Nash equilibrium points in n-person games, and pure policy Nash bargaining and equilibrium threat solutions in 2-person policy games. Connectedness of the policy and payoff sets is not required.

Author's Profile

Leigh Tesfatsion
Iowa State University

Analytics

Added to PP
2013-01-04

Downloads
432 (#40,418)

6 months
84 (#56,310)

Historical graph of downloads since first upload
This graph includes both downloads from PhilArchive and clicks on external links on PhilPapers.
How can I increase my downloads?