Brief Announcement: Rationality Authority for Provable Rational Behavior

摘要

Game theory is based on the assumption that (at least, some) agents play rationally. This assumption is questionable in the face of the sophistication for obtaining the best strategy in (even simple) games. Thus, the application of game theory in real life is limited by the degree in which the agents (who are rarely mathematicians, economic experts, or computer scientists) can understand the meaning of the game rules and the way to act. One famous example is auctions where every variant of an auction introduces the need for a new proof that, say, reconfirms that the second price auction is the best to use.