Abstract
The one-state machine that always defects is the only evolutionarily stable strategy in the machine game that is derived from the prisoners' dilemma, when preferences are lexicographic in complexity. This machine is the only stochastically stable strategy of the machine game when players are restricted to choosing machines with a uniformly bounded complexity. Journal of Economic Literature Classification Numbers: C70, C72.
Original language | English |
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Pages (from-to) | 309-321 |
Number of pages | 13 |
Journal | Games and Economic Behavior |
Volume | 39 |
Issue number | 2 |
DOIs | |
State | Published - 1 Jan 2002 |
Externally published | Yes |
Keywords
- Automata
- Complexity
- Prisoner's dilemma
ASJC Scopus subject areas
- Finance
- Economics and Econometrics