We evaluate the asymptotic performance of boundedly-rational strategies in multi-armed bandit problems, where performance is measured in terms of the tendency (in the limit) to play optimal actions in either (i) isolation or (ii) networks of other learners. We show that, for many strategies commonly employed in economics, psychology, and machine learning, performance in isolation and performance in networks are essentially unrelated. Our results suggest that the appropriateness of various, common boundedly-rational strategies depends crucially upon the social context (if any) (...) in which such strategies are to be employed. (shrink)

To clarify and illuminate the place of probability in science Ellery Eells and James H. Fetzer have brought together some of the most distinguished philosophers ...

The problem of trust is discussed in terms of David Hume’s meadow-draining example. This is analyzed in terms of rational choice, evolutionary game theory and a dynamic model of social network formation. The kind of explanation that postulates an innate predisposition to trust is seen to be unnecessary when social network dynamics is taken into account.

There are two fundamental problems for instituting a social contract. The first is cooperating to produce a surplus; the second is deciding how to divide this surplus. I represent each problem by a simple paradigm game, a Stag Hunt game for cooperating to produce a surplus, and a bargaining game for its division. I will discuss these simple games in isolation, and end by discussing their composition.

This article considers how a generalized signalling game may self-assemble as the saliences of the agents evolve by reinforcement on those sources of information that in fact lead to successful action. On the present account, generalized signalling games self-assemble even as the agents co-evolve meaningful representations and successful dispositions for using those representations. We will see how reinforcement on successful information sources also provides a mechanism whereby simpler games might compose to form more complex games. Along the way, I consider (...) how an old game might be appropriated to a new context by reinforcement on successful associations between old and new saliences. (shrink)