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Conformity and Bounded Rationality in Games with Many Players

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Working paper
Author/s: 
Edward Cartwright and Myrna Wooders
Issue number: 
2003.123
Publisher: 
FEEM
Year: 
2003
Interpret a set of players all playing the same pure strategy and all with similar attributes as a society. Is it consistent with self interested behavior for a population to organize itself into a relatively small number of societies? In a companion paper we characterized how large ε must be, in terms of parameters describing individual games, for an equilibrium to exhibit conformity in pure strategies. In this paper we provide a wide class of games where such conformity is boundedly rational, that is, where can be chosen to be small.
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