Related papers: Quantum Strategies and Economic Equilibrium
A critical examination of some basic conceptual issues in classical statistical mechanics is attempted, with a view to understanding the origins, structure and statuts of that discipline. Due attention is given to the interplay between…
Conventional noncooperative game theory hypothesizes that the joint strategy of a set of players in a game must satisfy an "equilibrium concept". All other joint strategies are considered impossible; the only issue is what equilibrium…
Experimental economics has repeatedly demonstrated that the Nash equilibrium makes inaccurate predictions for a vast set of games. Instead, several alternative theoretical concepts predict behavior that is much more in tune with observed…
Recent developments in the mathematical foundations of quantum mechanics have brought the theory closer to that of classical probability and statistics. On the other hand, the unique character of quantum physics sets many of the questions…
Epidemiologists have a growing interest in employing computational approaches to solve analytic problems, with simulation being arguably the most accessible among all approaches. While previous literature discussed the utility of simulation…
In the last decade, stochastic models have shown to be very useful for quantitative modelling of social processes. Here, a configurational master equation for the description of behavioral changes by pair interactions of individuals is…
We consider the dynamics, existence and stability of the equilibrium states for large populations of individuals who can play various types of non--cooperative games. The players imitate the most attractive strategies, and the choice is…
Evolutionary game theory is an abstract and simple, but very powerful way to model evolutionary dynamics. Even complex biological phenomena can sometimes be abstracted to simple two-player games. But often, the interaction between several…
We extend the concept of a classical two-person static game to the quantum domain, by giving an Hilbert structure to the space of classical strategies and studying the Battle of the Sexes game. We show that the introduction of entangled…
As the most critical production factor in the era of the digital economy, data will have a significant impact on social production and development. Energy enterprises possess data that is interconnected with multiple industries,…
The fundamental laws of quantum world upsets the logical foundation of classic physics. They are completely counter-intuitive with many bizarre behaviors. However, this paper shows that they may make sense from the perspective of a general…
Quantum entanglement has been recently demonstrated as a useful resource in conflicting interest games of incomplete information between two players, Alice and Bob [Pappa et al., Phys. Rev. Lett. 114, 020401 (2015)]. General setting for…
Recent results and interpretations are presented for the thermal minority game, concentrating on deriving and justifying the fundamental stochastic differential equation for the microdynamics.
As we show using the notion of equilibrium in the theory of infinite sequential games, bubbles and escalations are rational for economic and environmental agents, who believe in an infinite world. This goes against a vision of a self…
In this note, we prove the existence of an equilibrium concept, dubbed conditional strategy equilibrium, for non-cooperative games in which a strategy of a player is a function from the other players' actions to her own actions. We study…
The explicit construction is presented of two-player game satisfying: (i) symmetry with respect to the permutation of the players; (ii) the existence of upper bound on total payoff following from Bell inequality; (iii) the existence of…
Socio-economic inequalities are manifested in different aspects of our social life. We discuss various aspects, beginning with the evolutionary and historical origins, and discussing the major issues from the social and economic point of…
This essay gives a self-contained introduction to quantum game theory, and is primarily oriented to economists with little or no acquaintance with quantum mechanics. It assumes little more than a basic knowledge of vector algebra. Quantum…
Games with incomplete information are formulated in a multi-sector probability matrix formalism that can cope with quantum as well as classical strategies. An analysis of classical and quantum strategy in a multi-sector extension of the…
Experiments on the ultimatum game have revealed that humans are remarkably fond of fair play. When asked to share an amount of money, unfair offers are rare and their acceptance rate small. While empathy and spatiality may lead to the…