Perfect rationality

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In economics and game theory, the participants are sometimes considered to have perfect rationality: that is, they always act in a rational way, and are capable of arbitrarily complex deductions towards that end. That is to say, they will always be capable of thinking through all possible outcomes and choosing the best possible thing to do.

[edit] See also

• Rational choice theory
• Superrationality
• Homo economicus
• Bounded rationality
• Dynamic inconsistency

v • d • e Topics in game theory Definitions Normal form game · Extensive form game · Cooperative game · Information set · Preference Equilibrium concepts Nash equilibrium · Subgame perfection · Bayesian-Nash · Perfect Bayesian · Trembling hand · Proper equilibrium · Epsilon-equilibrium · Correlated equilibrium · Sequential equilibrium · Quasi-perfect equilibrium · Evolutionarily stable strategy · Risk dominance · Pareto efficiency Strategies Dominant strategies · Pure strategy · Mixed strategy · Tit for tat · Grim trigger · Collusion Classes of games Symmetric game · Perfect information · Dynamic game · Repeated game · Signaling game · Cheap talk · Zero-sum game · Mechanism design · Stochastic game · Nontransitive game Games Prisoner's dilemma · Traveler's dilemma · Coordination game · Chicken · Volunteer's dilemma · Dollar auction · Battle of the sexes · Stag hunt · Matching pennies · Ultimatum game · Minority game · Rock-paper-scissors · Pirate game · Dictator game · Public goods game · Bargaining problem · Blotto games  · War of attrition Theorems Minimax theorem · Purification theorems · Folk theorem · Revelation principle · Arrow's theorem

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• This page was last modified 18:34, 7 November 2007 by Wikipedia user Amalas. Based on work by Wikipedia user(s) Pete.Hurd, Kzollman, Maurreen, Bluemoose, Maximus Rex and The Anome and Anonymous user(s) of Wikipedia.
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