Rate of Satisfying Payoff: New Thinking of Rationality Hypothesis in Game Theory
Wang Li-bo · Journal of Qingdao University · 2004
This paper responds the doubts of rationality hypothesis in Game Theory,and indicats that the essence of rationality hypothesis is to reach utility maximum. A new concept of ”Rate of Satisfying Payoff” is put forward, and a new method of utility measurement is regarded. A new solution to ”Centipede Game” is given by applying ”Rate of Satisfying Payoff”.