Risk aversion can promote cooperation
Fuente:
arXiv
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| Auteurs principaux: | , , , , |
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| Format: | Preprint |
| Publié: |
2023
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| _version_ | 1866912245904048128 |
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| author | Armas, Jay Merbis, Wout Meylahn, Janusz Rad, Soroush Rafiee del Razo, Mauricio J. |
| author_facet | Armas, Jay Merbis, Wout Meylahn, Janusz Rad, Soroush Rafiee del Razo, Mauricio J. |
| contents | Cooperative dynamics are central to our understanding of many phenomena in living and complex systems. However, we lack a universal mechanism to explain the emergence of cooperation. We present a novel framework for modelling social dilemma games with an arbitrary number of players by combining reaction networks, methods from quantum mechanics applied to stochastic complex systems, game theory and stochastic simulations of molecular reactions. Using this framework, we propose a novel and robust mechanism for cooperation based on risk aversion that leads to cooperative behaviour in population games. Rather than individuals seeking to maximise payouts in the long run, individuals seek to obtain a minimum set of resources with a given level of confidence and in a limited time span. We show that this mechanism can lead to the emergence of new equilibria in a range of social dilemma games. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2306_05971 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | Risk aversion can promote cooperation Armas, Jay Merbis, Wout Meylahn, Janusz Rad, Soroush Rafiee del Razo, Mauricio J. Physics and Society Soft Condensed Matter Statistical Mechanics Theoretical Economics Adaptation and Self-Organizing Systems Cooperative dynamics are central to our understanding of many phenomena in living and complex systems. However, we lack a universal mechanism to explain the emergence of cooperation. We present a novel framework for modelling social dilemma games with an arbitrary number of players by combining reaction networks, methods from quantum mechanics applied to stochastic complex systems, game theory and stochastic simulations of molecular reactions. Using this framework, we propose a novel and robust mechanism for cooperation based on risk aversion that leads to cooperative behaviour in population games. Rather than individuals seeking to maximise payouts in the long run, individuals seek to obtain a minimum set of resources with a given level of confidence and in a limited time span. We show that this mechanism can lead to the emergence of new equilibria in a range of social dilemma games. |
| title | Risk aversion can promote cooperation |
| topic | Physics and Society Soft Condensed Matter Statistical Mechanics Theoretical Economics Adaptation and Self-Organizing Systems |
| url | https://arxiv.org/abs/2306.05971 |