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Team reasoning and a measure of mutual advantage in games

Karpus, Jurgis and Radzvilas, Mantas (2017) Team reasoning and a measure of mutual advantage in games. Economics and Philosophy, 34 (1). pp. 1-30. ISSN 0266-2671

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Identification Number: 10.1017/S0266267117000153

Abstract

The game theoretic notion of best-response reasoning is sometimes criticized when its application produces multiple solutions of games, some of which seem less compelling than others. The recent development of the theory of team reasoning addresses this by suggesting that interacting players in games may sometimes reason as members of a team – a group of individuals who act together in the attainment of some common goal. A number of properties have been suggested for team-reasoning decision-makers’ goals to satisfy, but a few formal representations have been discussed. In this paper we suggest a possible representation of these goals based on the notion of mutual advantage. We propose a method for measuring extents of individual and mutual advantage to the interacting decision-makers, and define team interests as the attainment of outcomes associated with maximum mutual advantage in the games they play.

Item Type: Article
Official URL: https://www.cambridge.org/core/journals/economics-...
Additional Information: © 2017 Cambridge University Press
Divisions: Philosophy, Logic and Scientific Method
Subjects: B Philosophy. Psychology. Religion > B Philosophy (General)
Sets: Departments > Philosophy, Logic and Scientific Method
Date Deposited: 09 May 2018 16:01
Last Modified: 20 Jun 2020 02:40
Projects: 283849
Funders: Seventh Framework Programme
URI: http://eprints.lse.ac.uk/id/eprint/87836

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