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3 - Artificial Games

from Part I - Artificial Economics and Mainstream Economics

Published online by Cambridge University Press:  28 October 2021

Ruben Mercado
Ruben Mercado
Affiliation:
Latin American Faculty of Social Sciences
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Summary

Chapter 3 presents models in which artificial agents interact through games. It first introduces a typical mainstream economics model known as the prisoner’s dilemma, in which agents interact through a classic game theory game, and then contrast it with an artificial evolutionary game based on the same dilemma. In this evolutionary game, the dynamic evolution of a population of boundedly rational agents is represented and simulated using a genetic algorithm. It finally contrasts the assumptions of artificial economics against those of mainstream economics when modeling games.

Keywords

artificial gamesevolutionary gamesgame theoryprisoner’s dilemmagenetic algorithmsfull rationalitybounded rationality
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Chapter
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Artificial Economics
Methods, Models, and Interdisciplinary Links
 , pp. 50 - 59
Publisher: Cambridge University Press
Print publication year: 2021

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  • Artificial Games
  • Ruben Mercado
  • Book: Artificial Economics
  • Online publication: 28 October 2021
  • Chapter DOI: https://doi.org/10.1017/9781009036719.005
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  • Artificial Games
  • Ruben Mercado
  • Book: Artificial Economics
  • Online publication: 28 October 2021
  • Chapter DOI: https://doi.org/10.1017/9781009036719.005
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Artificial Games
  • Ruben Mercado
  • Book: Artificial Economics
  • Online publication: 28 October 2021
  • Chapter DOI: https://doi.org/10.1017/9781009036719.005
Available formats
×