Abstract
A game-theoretic model can not incorporate behavioral attitudes. For more effective prediction, the model can be augmented with the reflection of irrational choices. Pitcher’s problem of baseball can be a useful example to show association between strategic choice and behavioral attitude. On mound, the pitcher should encounter great risk of possible unwanted outcome. Confronting the risk, he might be inclined to choose the comfortable strategy, which can reduce possibility of trembling hand. The pitcher’s decision can be explained in two-dimensions: rationality and irrationality. In this paper, we will consider a situation that mixed strategy can be chosen. Intuitively, behavioral attitude is believed to generate some bias on probability distribution assigned for the strategies. That is, likeliness of choosing one pure strategy can be biased depending on behavioral attitude of the individual. Understanding the individuality of the player can contribute to anticipating how he would make a choice.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.