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http://hdl.handle.net/10419/56815
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| DC Field | | Value | | Language |
| dc.contributor.author | | Levínský, René | | en_US |
| dc.contributor.author | | Neyman, Abraham | | en_US |
| dc.contributor.author | | Zelený, Miroslav | | en_US |
| dc.date.accessioned | | 2010-12-08 | | en_US |
| dc.date.accessioned | | 2012-04-11T09:26:45Z | | - |
| dc.date.available | | 2012-04-11T09:26:45Z | | - |
| dc.date.issued | | 2010 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/56815 | | - |
| dc.description.abstract | | In this paper we offer a new approach to modeling strategies of bounded complexity, the so-called factor-based strategies. In our model, the strategy of a player in the multi-stage game does not directly map the set of histories H to the set of her actions. Instead, the player's perception of H is represented by a factor [...] where X reflects the cognitive complexity of the player. Formally, mapping [...] sends each history to an element of a factor space X that represents its equivalence class. The play of the player can then be conditioned just on the elements of the set X. From the perspective of the original multi-stage game we say that a function [...] from H to X is a factor of a strategy [...] if there exists a function [...] from X to the set of actions of the player such that [...]. In this case we say that the strategy [...] is [...]-factor-based. Stationary strategies and strategies played by finite automata and strategies with bounded recall are the most prominent examples of factor-based strategies. In the discounted infinitely repeated game with perfect monitoring, a best reply to a profile of [...]-factor-base strategies need not be a [...]-factor-base strategy. However, if the factor [...] is recursive, namely its value [...] on a finite string of action profiles [...] is a function of [...] and [...], then for every profile of factor-based strategies there is a best reply that is a pure factor-based strategy. We also study factor-based strategies in the more general case of stochastic games.. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Univ. [u.a.] Jena | | en_US |
| dc.relation.ispartofseries | | Jena economic research papers 2010,082 | | en_US |
| dc.subject.jel | | C73 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | bounded rationality | | en_US |
| dc.subject.keyword | | factor-based | | en_US |
| dc.subject.keyword | | strategies bounded | | en_US |
| dc.subject.keyword | | recall strategies | | en_US |
| dc.subject.keyword | | finite automata | | en_US |
| dc.subject.stw | | Dynamisches Spiel | | en_US |
| dc.subject.stw | | Beschränkte Rationalität | | en_US |
| dc.subject.stw | | Wiederholte Spiele | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | Should i remember more than you? On the best response to factor-based strategies | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 641290454 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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