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Reaching win-win state of mind in games, formulation and solution

Larbani, Moussa and Yu, Po Lung (2009) Reaching win-win state of mind in games, formulation and solution. Journal of Non Linear Analysis and Convex Analysis, 10 (1). pp. 73-91. ISSN 1345-4773 (P), 1880-5221 (O)

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Abstract

Human psychology determines his/her action and behavior. This fact has not been fully incorporated in game theory. This paper intends to incorporate human psychology in formulating games as people play them. Using Habitual Domains and Markov chains theory, we present a new model for describing the evolution of the states of mind of players over time, the two person second order game. We introduce the concept of focal mind profile as well as the solution concept of win-win mind profile. Under some suitable assumptions, the restructuring game to reach a win-win mind profile can be formulated into a discrete optimal control problem. We illustrate the formulation with an example.

Item Type: Article (Journal)
Additional Information: 3917/13480
Uncontrolled Keywords: Second-order game, focal mind profile, win-win mind profile, habitual domain, Markov chain, optimal control problem
Subjects: H Social Sciences > HB Economic Theory > HB131 Methodology.Mathematical economics. Quantitative methods
Kulliyyahs/Centres/Divisions/Institutes: Kulliyyah of Economics and Management Sciences > Department of Business Administration
Depositing User: Professor Larbani Moussa
Date Deposited: 08 Jan 2012 18:09
Last Modified: 08 Jan 2012 18:09
URI: http://irep.iium.edu.my/id/eprint/13480

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