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Introduction to Rationalizability
Game Theory deals with the possible outcomes of a game by making assumptions. Assumptions are made on what a player might choose when faced with a choice. It is the based on the principle of rational choice which states that a player will always make a choice which holds the highest self-interest value for him, i.e., he will make a choice which will profit him the most. Here the underlying assumption is that every player is selfish and makes a choice only in his interest.
On the other hand “rationalizability” states that every player holds the knowledge that every player is making a rational choice. This knowledge affects the choice that each player makes and hence the outcome differs from the actual prediction. The greater part of game theory deals with these deviations from standard predictions and how human nature comes into play in analytical predictions. It is not an easy concept to grasp or implement and thus students are often stuck with the homework and assignments based on it. But you need not worry anymore as Rationalizability Introduction Assignment Help will provide all necessary assistance.
Need for Rationalizability
The more assumptions we will make the more fine tuned our prediction will be. Rational choice theory follows a linear prediction method and assumes that each choice is based on its worth to the player. With introduction to rationalizability, we are brought to terms with the assumption that each player holds the knowledge regarding the rational choice being made by the other players. These underlying assumptions over the main assumption helps make the prediction is sharper. But in order to do that, the concept gets even more complex and hard to understand. For better understanding and to seek aid for your rationalizability assignments refer to Rationalizability Introduction Assignment Help.
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