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339
Quantal Response Equilibria For Normal Form Games
 NORMAL FORM GAMES, GAMES AND ECONOMIC BEHAVIOR
, 1995
"... We investigate the use of standard statistical models for quantal choice in a game theoretic setting. Players choose strategies based on relative expected utility, and assume other players do so as well. We define a Quantal Response Equilibrium (QRE) as a fixed point of this process, and establish e ..."
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Cited by 392 (22 self)
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We investigate the use of standard statistical models for quantal choice in a game theoretic setting. Players choose strategies based on relative expected utility, and assume other players do so as well. We define a Quantal Response Equilibrium (QRE) as a fixed point of this process, and establish existence. For a logit specification of the error structure, we show that as the error goes to zero, QRE approaches a subset of Nash equilibria and also implies a unique selection from the set of Nash equilibria in generic games. We fit the model to a variety of experimental data sets by using maximum likelihood estimatation.
Reputation and Imperfect Information
 Journal of Economic Theory
, 1982
"... A common observation in the informal literature of economics (and elsewhere) is that in multistage “games, ” players may seek early in the game to acquire a reputation for being “tough ” or “benevolent ” or something else. But this phenomenon is not observed in some formal gametheoretic analyses of ..."
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Cited by 277 (4 self)
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A common observation in the informal literature of economics (and elsewhere) is that in multistage “games, ” players may seek early in the game to acquire a reputation for being “tough ” or “benevolent ” or something else. But this phenomenon is not observed in some formal gametheoretic analyses of finite games, such as Selten’s finitely repeated chainstore game or in the finitely repeated prisoners ’ dilemma. We reexamine Selten’s model, adding to it a “small ” amount of imperfect (or incomplete) information about players ’ payoffs, and we find that this addition is sufficient to give rise to the “reputation effect ” that one intuitively expects. Journal of Economic Literature, Classification Numbers: 026. 2 13, 6 11. 1.
Reaching Agreements Through Argumentation: A Logical Model and Implementation
 Artificial Intelligence
, 1998
"... In a multiagent environment, where selfmotivated agents try to pursue their own goals, cooperation cannot be taken for granted. Cooperation must be planned for and achieved through communication and negotiation. We present a logical model of the mental states of the agents based on a representatio ..."
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Cited by 227 (11 self)
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In a multiagent environment, where selfmotivated agents try to pursue their own goals, cooperation cannot be taken for granted. Cooperation must be planned for and achieved through communication and negotiation. We present a logical model of the mental states of the agents based on a representation of their beliefs, desires, intentions, and goals. We present argumentation as an iterative process emerging from exchanges among agents to persuade each other and bring about a change in intentions. We look at argumentation as a mechanism for achieving cooperation and agreements. Using categories identified from human multiagent negotiation, we demonstrate how the logic can be used to specify argument formulation and evaluation. We also illustrate how the developed logic can be used to describe different types of agents. Furthermore, we present a general Automated Negotiation Agent which we implemented, based on the logical model. Using this system, a user can analyze and explore differe...
Rational Learning Leads to Nash Equilibrium
 Econometrica
, 1993
"... Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at ..."
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Cited by 215 (13 self)
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Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at
Epistemic conditions for Nash equilibrium
, 1991
"... According to conventional wisdom, Nash equilibrium in a game “involves” common knowledge of the payoff functions, of the rationality of the players, and of the strategies played. The basis for this wisdom is explored, and it turns out that considerably weaker conditions suffice. First, note that if ..."
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Cited by 143 (6 self)
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According to conventional wisdom, Nash equilibrium in a game “involves” common knowledge of the payoff functions, of the rationality of the players, and of the strategies played. The basis for this wisdom is explored, and it turns out that considerably weaker conditions suffice. First, note that if each player is rational and knows his own payoff function, and the strategy choices of the players are mutually known, then these choices form a Nash equilibrium. The other two results treat the mixed strategies of a player not as conscious randomization of that player, but as conjectures of the other players about what he will do. When n = 2, mutual knowledge of the payoff functions, of rationality, and of the conjectures yields Nash equilibrium. When n ≥ 3, mutual knowledge of the payoff functions and of rationality, and common knowledge of the conjectures yield Nash equilibrium when there is a common prior. Examples are provided showing these results to be sharp.
COMPUTATION OF EQUILIBRIA in Finite Games
, 1996
"... We review the current state of the art of methods for numerical computation of Nash equilibria for nitenperson games. Classical path following methods, such as the LemkeHowson algorithm for two person games, and Scarftype fixed point algorithms for nperson games provide globally convergent metho ..."
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Cited by 120 (1 self)
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We review the current state of the art of methods for numerical computation of Nash equilibria for nitenperson games. Classical path following methods, such as the LemkeHowson algorithm for two person games, and Scarftype fixed point algorithms for nperson games provide globally convergent methods for finding a sample equilibrium. For large problems, methods which are not globally convergent, such as sequential linear complementarity methods may be preferred on the grounds of speed. None of these methods are capable of characterizing the entire set of Nash equilibria. More computationally intensive methods, which derive from the theory of semialgebraic sets are required for finding all equilibria. These methods can also be applied to compute various equilibrium refinements.
Trust as a Commodity
, 2000
"... Trust is central to all transactions and yet economists rarely discuss the notion. It is treated... ..."
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Cited by 102 (2 self)
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Trust is central to all transactions and yet economists rarely discuss the notion. It is treated...
Ten little treasures of game theory and ten intuitive contradictions
 AMERICAN ECONOMIC REVIEW
, 2001
"... This paper reports laboratory data for games that are played only once. These games span the standard categories: static and dynamic games with complete and incomplete information. For each game, the treasure is a treatment in which behavior conforms nicely to predictions of the Nash equilibrium or ..."
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Cited by 85 (6 self)
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This paper reports laboratory data for games that are played only once. These games span the standard categories: static and dynamic games with complete and incomplete information. For each game, the treasure is a treatment in which behavior conforms nicely to predictions of the Nash equilibrium or relevant refinement. In each case, however, a change in the payoff structure produces a large inconsistency between theoretical predictions and observed behavior. These contradictions are generally consistent with simple intuition based on the interaction of payoff asymmetries and noisy introspection about others’ decisions.
AnalogyBased Expectation Equilibrium
, 2001
"... It is assumed that players bundle nodes in which other players must move into analogy classes, and players only have expectations about the average behavior in every class. A solution concept is proposed for multistage games with perfect information: at every node players choose bestresponses to t ..."
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Cited by 62 (3 self)
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It is assumed that players bundle nodes in which other players must move into analogy classes, and players only have expectations about the average behavior in every class. A solution concept is proposed for multistage games with perfect information: at every node players choose bestresponses to their analogybased expectations, and expectations are correct on average over those various nodes pooled together into the same analogy classes. The approach is applied to a variety of games. It is shown that a player may beneÞt from having a coarse analogy partitioning. And for simple analogy partitioning, (1) initial cooperation followed by an end opportunistic behavior may emerge in the Þnitely repeated prisoner’s dilemma (or in the centipede game), (2) an agreement need not be reached immediately in bargaining games with complete information.