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On Kolmogorov Complexity and the Costs of Carrying out Strategies

Author

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  • Justin Smith

Abstract

It is common to model costs of carrying out strategies in games in relation to the complexity, in some sense, of the strategies. We show a particularly general definition of complexity for this purpose, one that subsumes many alternatives as special cases. We explore how this definition can be used and developed, and illustrate with applications to the analysis of two player finite repeated games.

Suggested Citation

  • Justin Smith, 2000. "On Kolmogorov Complexity and the Costs of Carrying out Strategies," Economics Series Working Papers 19, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:wpaper:19
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    File URL: https://ora.ox.ac.uk/objects/uuid:40a9586b-542a-4e1d-be0b-eba8377573cf
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    More about this item

    Keywords

    Kolmogorov; complexity; strategic complexity; bounded rationality; limited rationality;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other

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