Can Game Theory deal with Bounded Rationality?


 
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Can Game Theory deal with Bounded Rationality?
Ryan, USA
A key assumption of Game Theory, as mentioned in the article, is rationality. In reality of course individuals and companies may differ from each other in terms of how effectively they can observe a situation, analyze it, plan a strategy and execute their strategy. Their rationality is bounded.
(How) can Game Theory deal with Bounded Rationality?
 

 
Game Theory
Y Kerbelker, S Africa
Please read the book: "Game Changer" by A G Lafley (chairman and CEO of Procter & gamble) and Ram Charam (Coauther of the New York Times bestseller Execution) 2008 First Edition ISBN 978-0-307-38173-6 Published in US by Crown Business.
 

 











 

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