Balance and Rationality

Author: Paul Weirich [USA], translated by Huang Tao
Publisher:
Publish Date: 2000-12-01
Features: The author's reasoning also has some problems. Evidently, the strategy equilibrium he proposes cannot be directly derived from the current abstract representation of games in game theory. More accurately, strategy equilibrium depends on factors beyond the representation of standard-form games, such as psychology, temperament, etc. These factors are difficult to formalize, which greatly limits the application of this concept. This book presents an important contribution to game theory by introducing a new concept of strategy equilibrium. This new concept arises from an examination of the expected utility decision principle, which requires revision to account for the evidence about outcomes provided by a choice. The reasoning of the new principle distinguishes between the reasons and motivations for actions, utilizing an analysis of counterfactual condition judgments. The book also includes steps for identifying strategy equilibrium in ideal standard-form games. It comprehensively integrates decision theory and game theory with a powerful new method, which is particularly beneficial for all thinkers concerned with decision theory and game theory, such as economists and other social science researchers.