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Repeated Play of Families of Games by Resource-Constrained Players

Author

Listed:
  • Arina Nikandrova

    (Department of Economics, Mathematics and Statistics, Birkbeck College, Malet Street, London WC1E7 HX, UK)

Abstract

This paper studies a repeated play of a family of games by resource-constrained players. To economize on reasoning resources, the family of games is partitioned into subsets of games which players do not distinguish. An example is constructed to show that when games are played a finite number of times, partitioning of the game set according to a coarse exogenously given partition might introduce new symmetric equilibrium payoffs which Pareto dominate best equilibrium outcomes with distinguished games. Moreover, these new equilibrium payoffs are also immune to evolutionary pressure at the partition selection stage.

Suggested Citation

  • Arina Nikandrova, 2013. "Repeated Play of Families of Games by Resource-Constrained Players," Games, MDPI, vol. 4(3), pages 1-8, July.
    • Handle: RePEc:gam:jgames:v:4:y:2013:i:3:p:339-346:d:27100
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    References listed on IDEAS

    as
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    2. Binmore, Kenneth G. & Samuelson, Larry, 1992. "Evolutionary stability in repeated games played by finite automata," Journal of Economic Theory, Elsevier, vol. 57(2), pages 278-305, August.
    3. Aumann, Robert J., 1997. "Rationality and Bounded Rationality," Games and Economic Behavior, Elsevier, vol. 21(1-2), pages 2-14, October.
    4. Renou, Ludovic, 2009. "Commitment games," Games and Economic Behavior, Elsevier, vol. 66(1), pages 488-505, May.
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