Pexeso ("Concentration game") as an arbiter of bounded-rationality models
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985556%3A_____%2F10%3A00347865" target="_blank" >RIV/67985556:_____/10:00347865 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Pexeso ("Concentration game") as an arbiter of bounded-rationality models
Original language description
Among board games, Pexeso (Concentration game) for two players is a game almost purely output-oriented, i.e. the optimal play is not given by strategic plans with long-term horizon (e.g. no short-term tactical sacrifice is observed). So, the optimal strategy and game dynamics may be calculated almost analytically, assuming a given rationality restrictions of the players. In the paper, the optimal strategy for two players is solved using dynamic programming. Further, it is proved that for rational players, the game would end with stalemate (the game never ends) with a probability close to 1. Further, the game dynamics is described if a rationality restriction is given such that the players perform a random move instead of the optimal one with probabilities P,Q > 0. In this case, the probability of a stalemate is equal to zero.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GD402%2F09%2FH045" target="_blank" >GD402/09/H045: Nonlinear Dynamics in Monetary and Financial Economics. Theory and Empirical Models.</a><br>
Continuities
Z - Vyzkumny zamer (s odkazem do CEZ)
Others
Publication year
2010
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 28th International Conference on Mathematical Methods in Economics 2010
ISBN
978-80-7394-218-2
ISSN
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e-ISSN
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Number of pages
4
Pages from-to
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Publisher name
University of South Bohemia
Place of publication
České Budějovice
Event location
České Budějovice
Event date
Sep 8, 2010
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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