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Subject
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Bertrand Paradox 1 Bounded Rationality 1 Coase theorem 1 Dynamic Games 1 Dynamical System 1 Keynesian beauty contest 1 backward induction paradox 1 chain-complete partially ordered set 1 fixed point theorems 1 impossibility theorem 1
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Online availability
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Free 1
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Book / Working Paper 1
Language
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Undetermined 1
Author
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Zhao, Guo 1
Institution
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Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München 1
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MPRA Paper 1
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RePEc 1
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Dynamic Games under Bounded Rationality
Zhao, Guo - Volkswirtschaftliche Fakultät, … - 2015
I propose a dynamic game model that is consistent with the paradigm of bounded rationality. Its main advantages over the traditional approach based on perfect rationality are that: (1) the strategy space is a chain-complete partially ordered set; (2) the response function is certain...
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