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177769

Microscopic foundation of stochastic game dynamical equations

Dirk Helbing

pp. 211-224

Abstract

Since von Neumann and Morgenstern initiated the field of game theory,1 it has often proved of great value for the quantitative description and understanding of competition and co-operation between individuals. Game theory focusses on two questions: 1. Which is the optimal strategy in a given situation? 2. What is the dynamics of strategy choices in cases of repeatedly interacting individuals? In this connection game dynamical equations2 find a steadily increasing interest. Although they agree with the replicator equations of evolution theory (cf. Sec. II), they cannot be justified in the same way. Therefore, we will be looking for a foundation of the game dynamical equations which is based on individual actions and decisions (cf. Sec. IV).

Publication details

Published in:

Leinfellner Werner, Köhler Eckehart (1998) Game theory, experience, rationality: foundations of social sciences, economics and ethics. In honor of John C. Harsanyi. Dordrecht, Springer.

Pages: 211-224

DOI: 10.1007/978-94-017-1654-3_18

Full citation:

Helbing Dirk (1998) „Microscopic foundation of stochastic game dynamical equations“, In: W. Leinfellner & E. Köhler (eds.), Game theory, experience, rationality, Dordrecht, Springer, 211–224.