Results 11 to 20 of about 2,072 (264)
Heterogeneous quantal response equilibrium and cognitive hierarchies [PDF]
Journal of Economic Theory, 2009 We explore an equilibrium model of games where players' choice behavior is given by logit response functions, but their payoff responsiveness is heterogeneous. We extend the definition of quantal response equilibrium to this setting, calling it heterogeneous quantal response equilibrium (HQRE), and prove existence under weak conditions.
Camerer, Colin F. +2 more
core +6 more sources
On the Empirical Content of Quantal Response Equilibrium [PDF]
American Economic Review, 2008 The quantal response equilibrium (QRE) notion of Richard D. McKelvey and Thomas R. Palfrey (1995) has recently attracted considerable attention, due in part to its widely documented ability to rationalize observed behavior in games played by experimental subjects.
Philip A. Haile +2 more
core +9 more sources
Quantal Response Equilibrium [PDF]
, 2016 This book presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is ...
Goeree, Jacob K +2 more
openaire +2 more sources
Entropy, 2018 This paper studies the pattern of technical change at the firm level by applying and extending the Quantal Response Statistical Equilibrium model (QRSE).
Jangho Yang
doaj +3 more sources
Quantal response equilibrium and rationalizability: Inside the black box
Games and Economic BehaviorThis paper aims to connect epistemic and behavioral game theory by examining the epistemic foundations of quantal response equilibrium (QRE) in static games. We focus on how much information agents possess about the probability distributions of idiosyncratic payoff shocks, in addition to the standard assumptions of rationality and common belief in ...
Shuige Liu, Fabio Maccheroni
exaly +3 more sources
Non-parametric identification and testing of quantal response equilibrium
Games and Economic BehaviorWe study the falsifiability and identification of Quantal Response Equilibrium (QRE) when each player’s utility and error distribution are relaxed to be unknown non-parametric functions. Using variations of players’ choices across a series of games, we first show that both the utility function and the distribution of errors are non-parametrically over ...
Hoelzemann, Johannes +2 more
openaire +3 more sources
The Ordering Optimization Model for Bounded Rational Retailer with Inventory Transshipment
Mathematics, 2022 In order to study retailers’ ordering behavior deviating from the standard theoretical optimal decision, which is caused by retailers’ information asymmetry, cognitive ability, insufficient computing ability, and other factors, we construct a bounded ...
Qingren He +3 more
doaj +1 more source
Equilibrium Selection in Hawk–Dove Games
Games, 2023 We apply three equilibrium selection techniques to study which equilibrium is selected in a hawk–dove game with a multiplicity of equilibria. By using a uniform-price auction as an illustrative example, we find that when the demand in the auction is low ...
Mario Blázquez de Paz, Nikita Koptyug
doaj +1 more source
Data from an incentivized laboratory experiment on strategic medical choices
Data in Brief, 2021 This paper presents data of medical choices determining physicians’ profit and patients’ health benefit under three levels of market competition: monopoly, duopoly, and quadropoly.
Ge Ge, Geir Godager
doaj +1 more source
From rationality to cooperativeness: The totally mixed Nash equilibrium in Markov strategies in the iterated Prisoner's Dilemma. [PDF]
PLoS ONE, 2017 In this research, the social behavior of the participants in a Prisoner's Dilemma laboratory game is explained on the basis of the quantal response equilibrium concept and the representation of the game in Markov strategies.
Ivan S Menshikov +3 more
doaj +1 more source