On beliefs approximation and minimax regret in 2x2 games
نویسنده
چکیده
We axiomatically de...ne the behavior of a function that may capture the players’ beliefs in 2x2 one shot games. Among di¤erent existing concepts the unique one which ful...lls all the axioms is the mixed version of the minimax regret. This justi...es its use to approximate the beliefs of inexperienced players and it also provides the starting point for a simple procedure that heuristically selects the strategies played with the highest probability. Predictions are then compared with existing experimental evidence about one shot matching pennies games. Applications to other classes of games are also explored.
منابع مشابه
Andrea Gallice: Best Responding to What? A Behavioral Approach to One Shot Play in 2x2 Games
We introduce a simple procedure to be used for selecting the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 games. We start with an axiomatic description of a function that may capture players’ beliefs. Various proposals connected with the concept of mixed strategy Nash equilibrium do not match this description. On the other hand minimax regret obeys al...
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تاریخ انتشار 2005