Three essays on bounded rationality and individual learning in repeated games
In the first chapter, we revisit the El Farol bar problem developed by Brian W. Arthur (1994) to investigate how one might best model bounded rationality in economics. We begin by modelling the El Farol bar problem as a market entry game and describing its Nash equilibria. Then, assuming agents are...
| Main Author: | |
|---|---|
| Published: |
University of Edinburgh
2009
|
| Subjects: | |
| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.663715 |