Article ID: | iaor19982912 |
Country: | Germany |
Volume: | 26 |
Issue: | 4 |
Start Page Number: | 439 |
End Page Number: | 453 |
Publication Date: | Jan 1997 |
Journal: | International Journal of Game Theory |
Authors: | Pazgal A. |
Keywords: | pareto-optimality |
We study the play of mutual interests games by satisficing decision makers. We show that, for a high enough initial aspiration level, and under certain assumptions of ‘tremble’, there is a high probability (close to unity) of convergence to the Pareto dominant cooperative outcome. Simulations indicate that the theoretical result is robust with respect to the ‘trembling’ mechanism.