Title: | Bounded rationality in differential games | Authors: | Beckmann, Klaus Bertram | Language: | eng | Issue Date: | 2017 | Publisher: | Universitätsbibliothek der HSU/UniBwH | Document Type: | Working Paper | Journal / Series / Working Paper (HSU): | Diskussionspapier / Helmut-Schmidt-Universität / Fächergruppe Volkswirtschaftslehre | Issue: | 178 | Publisher Place: | Hamburg | Abstract: | The present paper proposes a myopic, boundedly rational heuristic for individual decision-making in differential game settings. I demonstrate that this type of behaviour converges to Nash equilibrium in infinitely repeated stage games without a state variable if the stage game is strategically symmetric. Two examples are used to illustrate the application of the heuristic in differential games. |
Organization Units (connected with the publication): | VWL, insb. Ökonomik des öffentlichen Sektors | URL: | http://hdl.handle.net/10419/184875 https://www.hsu-hh.de/fgvwl/wp-content/uploads/sites/572/2017/12/hsu-wp-vwl-178.pdf |
Appears in Collections: | 3 - Reported Publications |
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