Decision Sciences
4 years ago

Game-changing mechanism boosts efficiency in economic decision-making

RePEc: Research Papers in Economics
The Expected Externality Mechanism in a Level-k Environment
Olga Gorelkina

Paper Summary

The article explores how a specific mechanism in game theory works when players only think a limited number of steps ahead. The researchers found that this mechanism can be successful in certain situations with agents who make decisions based on a set number of steps.

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