Definition:Rational Player
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Definition
The players of a game are generally assumed to be rational in the sense that:
- $(1): \quad$ Each player is fully aware of all possible choices that can be made
- $(2): \quad$ Each player may form expectations about any unknowns
- $(3): \quad$ Each player deliberately chooses an action based on a process of optimization.
Also see
Sources
- 1957: R. Duncan Luce and Howard Raiffa: Games and Decisions ... (previous) ... (next): Chapter $1$: General Introduction to the Theory of Games: $1.3$ An Informal Characterization of a Game
- 1994: Martin J. Osborne and Ariel Rubinstein: A Course in Game Theory ... (previous) ... (next): $1.4$: Rational Behavior