Thanks, I was thinking of the latter more (human irrationality), but found your first part still interesting. I understand irrationality was studied in psychology and economics, and I was wondering on the modeling of irrationality particularly, for 1-2 players, but also for a group of agents. For example, there are arguments saying for a group of irrational agents, the group choice could be rational depending on group structure etc. On individual irrationality and continued group irrationality, I think we would need to estimate the level of (and prevalence of ) irrationality in some way that captures unconscious preferences, or incomplete information. How to best combine these? Maybe it would just be just more data driven.
That seems to be getting into Game Theory territory. One can model agents (players) with different strategies, even suboptimal ones. A lot of the insight from Game Theory isn’t just about how to play a better strategy, but how changing the rules affects the game.
Thanks, I was thinking of the latter more (human irrationality), but found your first part still interesting. I understand irrationality was studied in psychology and economics, and I was wondering on the modeling of irrationality particularly, for 1-2 players, but also for a group of agents. For example, there are arguments saying for a group of irrational agents, the group choice could be rational depending on group structure etc. On individual irrationality and continued group irrationality, I think we would need to estimate the level of (and prevalence of ) irrationality in some way that captures unconscious preferences, or incomplete information. How to best combine these? Maybe it would just be just more data driven.
That seems to be getting into Game Theory territory. One can model agents (players) with different strategies, even suboptimal ones. A lot of the insight from Game Theory isn’t just about how to play a better strategy, but how changing the rules affects the game.