Conformity and bounded rationality in games with many players
Cartwright, Edward and Wooders, Myrna Holtz (2003) Conformity and bounded rationality in games with many players. Working Paper. University of Warwick, Department of Economics, Coventry.
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Intepret a set of players all playing the same pure strategy and all with similar attributes as a society. Is it consistent with self interested behaviour for a population to organise itself into a relatively small number of societies? In a companion paper we characterized how large e must be, in terms of parameters describing individual games, for an equilibrium to exhibit conformity in pure strategies. In this paper we provide a wide class of games where such conformity is boundedly rational, that is, where e can be chosen to be small.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HB Economic Theory|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Statistical decision, Games of strategy (Mathematics), Game theory, Strategy (Philosophy), Group theory|
|Series Name:||Warwick economic research papers|
|Publisher:||University of Warwick, Department of Economics|
|Place of Publication:||Coventry|
|Date:||20 October 2003|
|Number of Pages:||26|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|References:|| Cartwright, E.J. and M.H. Wooders (2003a) “Bounded rationality in arbitrary games with many players,” University of Warwick Department of Economics Working Paper no 672. On-line at http://www2.warwick.ac.uk/fac/soc/economics/research/papers/twerp672-revised.pdf  Cartwright, E.J. and M.H. Wooders (2003b) “On approximate equilibrium in pure strategies in games with many players,” University of Warwick Working Paper (forthcoming).  Kalai, E. (2002) “Ex-post stability in large games,” Northwestern University Discussion Paper 1351.  M. Wooders, E. Cartwright and R. Selten (2002) “Social conformity in games with many players,” University of Warwick Department of Economics Working Paper no 589 (revised), on-line at http://www2.warwick.ac.uk/fac/soc/economics/research/papers/2001/.|
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