Chapter 9: Recall, rationality and political economy
It has been observed that much literature in game theory relies on simplifying assumptions that can frustrate the application of the theory, particularly to public policy. The objective of this chapter is to give arguments why several other assumptions are problematic and to sketch some possible alternatives. We will begin with a common (often tacit) assumption of noncooperative game theory and then proceed to explore two further issues of cooperative game theory and an ambiguity in the concept of rationality.
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