Related papers: Quantum Strategies and Economic Equilibrium
Economies and societal structures in general are complex stochastic systems which may not lend themselves well to algebraic analysis. An addition of subjective value criteria to the mechanics of interacting agents will further complicate…
Unlike the classical kinetic theory of rarefied gases, where microscopic interactions among gas molecules are described as binary collisions, the modelling of socio-economic phenomena in a multi-agent system naturally requires to consider,…
In this paper we study stochastic dynamic games with many players; these are a fundamental model for a wide range of economic applications. The standard solution concept for such games is Markov perfect equilibrium (MPE), but it is well…
Economies are complex man-made systems where organisms and markets interact according to motivations and principles not entirely understood yet. The increasing dissatisfaction with the postulates of traditional economics i.e. perfectly…
Game theory provides a framework for studying communication dynamics and emergent phenomena arising from rational agent interactions. We present a model framework for the Volunteer's Dilemma with four key contributions: (1) formulating it…
The biased interaction game described the operation of systems rooted in boundedly rational interactions under conditions of scarcity. The game explored the influence of bias and demonstrated how hierarchy and inequality are emergent system…
We propose a simple yet rich model to extend the notions of Nash equilibria and correlated equilibria of strategic games to the quantum setting, in which we then study the relations between classical and quantum equilibria. Unlike the…
Quantum game theory is a new interdisciplinary field between game theory and physical research. In this paper, we extend the classical inspection game into a quantum game version by quantizing the strategy space and importing entanglement…
This work lies in the fusion of experimental economics and data mining. It continues author's previous work on mining behaviour rules of human subjects from experimental data, where game-theoretic predictions partially fail to work.…
We study a complementarity game as a systematic tool for the investigation of the interplay between individual optimization and population effects and for the comparison of different strategy and learning schemes. The game randomly pairs…
The noncooperative Nash equilibrium solution of classical games corresponds to a rational expectations attitude on the part of the players. However, in many cases, games played by human players have outcomes very different from Nash…
This work explores dynamics existing in interactions between players. The dynamic system of games is a new attitude to modeling in which an event is modeled using several games. The model allows us to analyze the interplay capabilities and…
In this paper we present different applications of finite state mean field games to socio-economic sciences. Examples include paradigm shifts in the scientific community or the consumer choice behaviour in the free market. The corresponding…
This paper proposes a systems approach to social sciences based on mathematical framework derived from a generalization of the mathematical kinetic theory and on theoretical tools of game theory. Social systems are modeled as a living…
Autonomous and learning agents increasingly participate in markets - setting prices, placing bids, ordering inventory. Such agents are not just aiming to optimize in an uncertain environment; they are making decisions in a game-theoretical…
Game theoretic equilibria are mathematical expressions of rationality. Rational agents are used to model not only humans and their software representatives, but also organisms, populations, species and genes, interacting with each other and…
We present a perspective on quantum games that focuses on the physical aspects of the quantities that are used to implement a game. If a game is to be played, it has to be played with objects and actions that have some physical existence.…
Quantum game theory is combined with risk mathematics' formalism to provide an approach to evolutionary scenario analysis. The formalism is addressed in its general form and is then applied to an extreme risks modelling case, to model a…
The so called \emph{quantum game theory} has recently been proclaimed as one of the new branches in the development of both quantum information theory and game theory. However, the notion of a quantum game itself has never been strictly…
Causality and game theory are two influential fields that contribute significantly to decision-making in various domains. Causality defines and models causal relationships in complex policy problems, while game theory provides insights into…