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Conformity and Bounded Rationality in Games with Many Players

Author

Listed:
  • Edward Cartwright

    (Department of Economics, University of Warwick, UK)

  • Myrna Wooders

    (Department of Economics, University of Warwick, UK)

Abstract

Interpret 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 characterised 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 can be chosen to be small.

Suggested Citation

  • Edward Cartwright & Myrna Wooders, 2003. "Conformity and Bounded Rationality in Games with Many Players," Working Papers 2003.123, Fondazione Eni Enrico Mattei.
    • Handle: RePEc:fem:femwpa:2003.123
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    References listed on IDEAS

    as
    1. Edward Cartwright & Myrna Wooders, 2009. "On equilibrium in pure strategies in games with many players," International Journal of Game Theory, Springer;Game Theory Society, vol. 38(1), pages 137-153, March.
    2. Wooders, Myrna & Cartwright, Edward & Selten, Reinhard, 2002. "Social Conformity and Equilibrium in Pure Strategies in Games with Many Players," Economic Research Papers 269410, University of Warwick - Department of Economics.
    3. Ehud Kalai, 2001. "Ex-Post Stability in Large Games," Discussion Papers 1351, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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    Citations

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    Cited by:

    1. Cartwright, Edward, 2003. "Imitation and the emergence of Nash equilibrium play in games with many players," Economic Research Papers 269568, University of Warwick - Department of Economics.
    2. Edward Cartwright & Myrna Wooders, 2009. "On equilibrium in pure strategies in games with many players," International Journal of Game Theory, Springer;Game Theory Society, vol. 38(1), pages 137-153, March.
    3. Edward Cartwright & Myrna Wooders, 2008. "Behavioral Properties of Correlated Equilibrium; Social Group Structures with Conformity and Stereotyping," Vanderbilt University Department of Economics Working Papers 0814, Vanderbilt University Department of Economics.
    4. Azrieli, Yaron, 2009. "Categorizing others in a large game," Games and Economic Behavior, Elsevier, vol. 67(2), pages 351-362, November.

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    More about this item

    Keywords

    Conformity; Bounded Rationality;

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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