2016
DOI: 10.1371/journal.pone.0159670
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What Is True Halving in the Payoff Matrix of Game Theory?

Abstract: In game theory, there are two social interpretations of rewards (payoffs) for decision-making strategies: (1) the interpretation based on the utility criterion derived from expected utility theory and (2) the interpretation based on the quantitative criterion (amount of gain) derived from validity in the empirical context. A dynamic decision theory has recently been developed in which dynamic utility is a conditional (state) variable that is a function of the current wealth of a decision maker. We applied dyna… Show more

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Cited by 3 publications
(7 citation statements)
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References 27 publications
(22 reference statements)
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“…The development of game theory was based on the axiomatic system of expected utility theory 1 . The axiomatic system of expected utility theory has recently been found to be a static model based on the comparison of preferences 28 . Because game theory was developed based on this axiomatic system, game theory itself is a static model as well.…”
mentioning
confidence: 99%
“…The development of game theory was based on the axiomatic system of expected utility theory 1 . The axiomatic system of expected utility theory has recently been found to be a static model based on the comparison of preferences 28 . Because game theory was developed based on this axiomatic system, game theory itself is a static model as well.…”
mentioning
confidence: 99%
“…We assume that the pay-off (utility) matrix depends on the player's current state, but more realistically, we can expect that the pay-off matrix also depends on the current state of opponent [ 24 , 26 ]. We also currently assume that r t are independent, identically distributed random variables (i.e.…”
Section: Discussionmentioning
confidence: 99%
“…The concept of the DUF is a possible alternative framework to the five reciprocity protocols elucidated by Nowak, leading to the evolution of mutual cooperation. More importantly, any games played by human and animal societies are dynamic [ 17 , 24 ]. Therefore, the current DUF should apply to any game in any society.…”
Section: Discussionmentioning
confidence: 99%
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“…Namely, in this model, the amount of food intake is assumed to be equal to the fitness gain of an individual. However, both the expected utility theory (Caraco, ; Caraco et al, ; Real, , ) and dynamic utility theory (Ito, Katsumata, Hasegawa, & Yoshimura, , ; Yoshimura et al, ; Yoshimura, Ito, Miller III, & Tainaka, ) suggest that fitness consequences are not linearly associated with food intake. The introduction of utility functions (either static or dynamic) further complicates the calculations and analyses.…”
Section: Discussionmentioning
confidence: 99%