Synopses & Reviews
Synopsis
Excerpt from Imperfect Equilibrium: February 1990
In the proposed approach, the game model is extended to include a specification of the players' abilities to implement their desired strategies. Each player is endowed with a personal behavior pattern, termed his performance function, under which the action that he takes depends stochastically on (i) the target strategy that he would rationally like to adopt, and (ii) the potential consequences that can accrue to him from each of his feasible strategies. Our analysis assumes that the players will be careful to avoid the costlier deviations from optimal behavior more than the relatively trivial ones (this is very much in the spirit of Myerson's proper equilibrium.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.