Individual learning and social rationality

Abstract

Classical game theory assumes that players have a coherent model of the game in which they are engaged, that they make optimum plans assuming that everyone else makes optimum plans, and that all of this is common knowledge. Evolutionary game theory postulates instead that players have limited understanding of their environment, only modest reasoning ability, and no common knowledge. Surprisingly, a fair amount of classical solution theory survives with this change of perspective. We show how high-rationality solutions can emerge in low-rationality environments provided the evolutionary process has sufficient time to unfold.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 39 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.