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The Reality Game

Abstract:

We introduce an evolutionary game with feedback between perception and reality, which we call the reality game. It is a game of chance in which the probabilities for different objective outcomes (e.g., heads or tails in a coin toss) depend on the amount wagered on those outcomes. By varying the `reality map', which relates the amount wagered to the probability of the outcome, it is possible to move continuously from a purely objective game in which probabilities have no dependence on wagers t...

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Publication status:
Published

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Publisher copy:
10.1016/j.jedc.2009.02.002

Authors


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Institution:
University of Oxford
Division:
MPLS
Department:
Mathematical Institute
Role:
Author
Journal:
JOURNAL OF ECONOMIC DYNAMICS and CONTROL More from this journal
Volume:
33
Issue:
5
Pages:
1091-1105
Publication date:
2009-02-01
DOI:
ISSN:
0165-1889
Language:
English
Keywords:
Pubs id:
pubs:387665
UUID:
uuid:1ea10810-9032-4e99-94c9-2030355a680d
Local pid:
pubs:387665
Source identifiers:
387665
Deposit date:
2013-11-16

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