Quantal Response Equilibrium: A Stochastic Theory of Games

by Thomas R. Palfrey, Jacob K. Goeree, Charles A. Holt, et al.

Quantal Response Equilibrium presents a stochastic theory of games that unites probabilistic choice models developed in psychology and statistics with the Nash equilibrium approach of classical game theory. Nash equilibrium assumes precise and perfect decision making in games, but human behavior is inherently stochastic and people realize that the behavior of others is not perfectly predictable. In contrast, QRE models choice behavior as...

• Format: Hardcover
• Language: English
• ISBN: 069112423X
• ISBN13: 9780691124230
• Release Date: June 2016
• Publisher: Princeton University Press
• Length: 328 Pages
• Weight: 1.35 lbs.
• Dimensions: 1.1" x 6.4" x 9.3"