Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/56815 
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dc.contributor.authorLevínský, Renéen
dc.contributor.authorNeyman, Abrahamen
dc.contributor.authorZelený, Miroslaven
dc.date.accessioned2010-12-08-
dc.date.accessioned2012-04-11T09:26:45Z-
dc.date.available2012-04-11T09:26:45Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/56815-
dc.description.abstractIn 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
dc.language.isoengen
dc.publisher|aFriedrich Schiller University Jena and Max Planck Institute of Economics |cJenaen
dc.relation.ispartofseries|aJena Economic Research Papers |x2010,082en
dc.subject.jelC73en
dc.subject.ddc330en
dc.subject.keywordbounded rationalityen
dc.subject.keywordfactor-baseden
dc.subject.keywordstrategies boundeden
dc.subject.keywordrecall strategiesen
dc.subject.keywordfinite automataen
dc.subject.stwDynamisches Spielen
dc.subject.stwBeschränkte Rationalitäten
dc.subject.stwWiederholte Spieleen
dc.subject.stwTheorieen
dc.titleShould i remember more than you? On the best response to factor-based strategies-
dc.typeWorking Paperen
dc.identifier.ppn641290454en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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