Comparison between evolutionary game theory and bounded rationality

Project: Research project

Project Details

Description

In the seedbed of research on modelling and simulation of social phenomena we are studying the emergence of cooperation. One of the methodologies in vogue in this regard is the use of simple iterative games, through which we hope to understand some of the relevant factors in the decision making of individuals. These games can be studied through simulations of computer models that emulate the decisions of agents and, in turn, these models can be validated by empirical evidence obtained from the behavior of individuals when participating in such a game in an experimental test.

Therefore, carrying out this study requires the implementation of the computer models and experimental testing. In the context of the present seedbed, the weight of these implementations falls on the students. To motivate the contribution and empowerment of the students, it is interesting to positively reward them with a small economic incentive. The idea here is to ensure a constant pace of student contributions in the collective effort. Previous experience has shown that such rewards have the desired effect. Additionally, it is expected that the experimental test will be conducted through the Experimental Economics Laboratory, which entails costs related to payments to experimental subjects and the use of the Laboratory. And finally, we want to present the results of this research at a conference, which usually entails travel, living and registration costs.

Keywords

The following results are expected from the resources requested:

1. Simulation of the emergence of cooperation through the methodology of the Evolutionary Game Theory. These simulations will be the result of the programming developed jointly by the members of the seedbed. To reward the contribution to the implementation of the code, a small monetary incentive will be stipulated.

2. Simulation of the emergence of cooperation through the heuristic of limited rationality. These simulations will be the result of the programming developed jointly by the members of the seedbed. To reward the contribution to the implementation of the code, a small monetary incentive will be stipulated.

3. Implementation of the Experimental Test in the nodeGame platform (Balietti, 2012) in the conditions equivalent to the model required by the heuristic of bounded rationality. This test will be the result of the programming developed jointly by the members of the seedbed. To reward the contribution to the implementation of the code, a small monetary incentive will be stipulated.

4. The experimental test will be carried out at the Laboratory of Experimental Economics of the Universidad del Rosario. To be able to access these services it is necessary to pay a fee to this Laboratory for the use of the experimental subjects' base, its facilities and its qualified personnel. Additionally, it is required to pay the experimental subjects for their participation in the test.

5. Analysis of the results obtained in the experimental trial. The database produced by the experiment must be processed. Processing requires programming routines in the R language for statistical analysis and data visualization. To reward the contribution to the implementation of the code, a small monetary incentive will be stipulated.

6. Presentation of the results in a conference at a national or international congress of Applied Mathematics or Interdisciplinary Social Sciences. The members of the seedbed will decide which of them will be in charge of the presentation and will finance their participation in the conference.
StatusActive
Effective start/end date1/27/209/27/21

Main Funding Source

  • Internal

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