LAUSR.org creates dashboard-style pages of related content for over 1.5 million academic articles. Sign Up to like articles & get recommendations!

Decision Making: Rational Choice or Hyper-Rational Choice

Photo by mluotio83 from unsplash

In this paper, we provide an interpretation of the rationality in game theory in which player consider the profit or loss of the opponent in addition to personal profit at… Click to show full abstract

In this paper, we provide an interpretation of the rationality in game theory in which player consider the profit or loss of the opponent in addition to personal profit at the game. The goal of a game analysis with two hyper-rationality players is to provide insight into real-world situations that are often more complex than a game with two rational players where the choices of strategy are only based on individual preferences. The hyper-rationality does not mean perfect rationality but an insight toward how human decision-makers behave in interactive decisions. The findings of this research can help to enlarge our understanding of the psychological aspects of strategy choices in games and also provide an analysis of the decision-making process with cognitive economics approach at the same time.

Keywords: game; rational choice; rationality; choice; decision making

Journal Title: Statistics, Optimization and Information Computing
Year Published: 2020

Link to full text (if available)


Share on Social Media:                               Sign Up to like & get
recommendations!

Related content

More Information              News              Social Media              Video              Recommended



                Click one of the above tabs to view related content.