Existence of Risk Strategy Equilibrium in Games Having No Pure Strategy Nash Equilibrium
Agent Computing and Multi-Agent Systems
Towards a bridge between cost and wealth in risk-aware planning
Applied Intelligence
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Many real life situations can be modeled as Prisoner's Dilemma. There are various strategies in the literature. However, few of which match the design objectives of an in- telligent agent - being reactive and pro-active. In this paper, we incorporate risk attitude and reputation into infinitely re- peated games. In this way, we find that the original game matrix can be transformed to a new matrix, which has a kind of cooperative equilibrium. We use the proposed con- cepts to analyze the Iterated Prisoner's Dilemma. Simula- tion also shows that agents, which consider risk attitude and reputation in the decision-making process, have improved performance and are reactive as well as pro-active.