Bounded Rationality Optimizes the Performance of Networked Systems in Prisoner's Dilemma Game

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)32_Refereed conference paper (with host publication)peer-review

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Author(s)

Detail(s)

Original languageEnglish
Title of host publication2018 IEEE International Symposium on Circuits and Systems ( ISCAS) - Proceedings
PublisherIEEE
ISBN (Electronic)978-1-5386-4881-0
Publication statusPublished - May 2018
Externally publishedYes

Publication series

NameProceedings - IEEE International Symposium on Circuits and Systems
Volume2018-May
ISSN (Print)0271-4310

Conference

Title2018 IEEE International Symposium on Circuits and Systems, ISCAS 2018
PlaceItaly
CityFlorence
Period27 - 30 May 2018

Abstract

The bounded rationality of agents plays an important role in the performance of complex systems. In this work, we explore the influence of bounded rationality on the evolution of cooperation, defection and extortion strategies on a regular lattice by applying the Fermi dynamics in the Prisoner's Dilemma game. It is found that the rationality level plays a non-trivial role in the emergence of cooperation with extortion in structured systems. On the one hand, for the perfect rationality case, it is difficult for cooperators to resist the invasion of defection. On the other hand, being too irrational breaks the stable structure between cooperators and extortioners, and results in the extinction of cooperation. Hence, there is a proper level of bounded rationality which can slow down the expansion of defective and extortionate behaviors, and promote the emergence of cooperation-extortion alliances, which can yield a better outcome to the whole system. This study may provide some clues to optimize the performance of multi-agent systems with bounded rationality.

Citation Format(s)

Bounded Rationality Optimizes the Performance of Networked Systems in Prisoner's Dilemma Game. / Xu, Xiongrui; Rong, Zhihai; Tse, Chi Kong.
2018 IEEE International Symposium on Circuits and Systems ( ISCAS) - Proceedings. IEEE, 2018. 8351860 (Proceedings - IEEE International Symposium on Circuits and Systems; Vol. 2018-May).

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)32_Refereed conference paper (with host publication)peer-review