Sentence examples for equitable payoff from inspiring English sources
We use the equitable payoff as a reference point to evaluate the kindness of a strategy.
We propose that a strategy that provides an opponent a higher payoff than the equitable payoff be evaluated as kind and a strategy that provides an opponent with a lower payoff than the equitable payoff be evaluated as unkind.
We first define what an equitable payoff is and use it as a reference point to evaluate the kindness of a strategy.
As the FE and the SRE, we define the equitable payoff as the average of the highest and the lowest of the payoffs in the set of the efficient strategies.
the "equitable payoff" for individual j at history h is given by the following equation: begin{aligned} pi _{j}^{e}((a_{m}(h))_{mne i})=frac{1}{2}left[ begin{array}{c} max left{ pi _{j}(a_{i}(h),(a_{m}(h))_{mne i} mid a_{i}in A_{i}right} +min left{ pi _{j}(a_{i}(h),(a_{im}(h))_{mne i} mid a_{i}in E_{i}right} end{array} right].
We only look for the equitable payoffs in the set of efficient strategies.
They become more likely to volunteer for a charity at school, more generous towards both rich and poor students in dictator games, and choose more equitable distributions of payoffs in the lab.
The former happens when everyone in the population expects the others will demand M, and consequently everyone demands M, so the system ends reaching an absorbing state for both intratype and intertype bargaining processes, which is equitable because all agents get equal payoffs, and is also efficient (in Pareto sense) because no agent can be made better off without making another agent worse off.
A payoff that is not efficient cannot be equitable, given that the player is giving a lower payoff to the opposing player without any benefit to herself.
Starting from Schelling (1960), several game theorists have conjectured that payoff equity might facilitate coordination in normal-form games with multiple equilibria – the more equitable equilibrium might be selected either because fairness makes it focal or because many individuals dislike payoff inequities, as abundant experimental evidence suggests.
