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Information theory and behavior
The European Physical Journal Special Topics ( IF 2.6 ) Pub Date : 2020-07-07 , DOI: 10.1140/epjst/e2020-900133-x
Duncan K. Foley

The quantal response behavior widely observed in experiments and observations of human and animal behavior can be derived as expected payoff maximization subject to a constraint on the entropy of the subject’s behavior mixed strategy. The Lagrange multiplier corresponding to the entropy constraint is an agent’s “behavior temperatureˮ. Entropy-constrained behavior approximates payoff-maximizing behavior, but in many contexts exhibits qualitatively different outcomes. The “endowment effectˮ and other instances of “loss-aversionˮ, for example, can be seen as a consequence of entropy-constrained behavior. Identical entropy-constrained agents with the same value for a good or asset will exhibit spontaneous “noise tradingˮ. An entropy-constrained agent with a lower behavior temperature will systematically take economic surplus away from an agent with the same valuation of a good but a higher behavior temperature in bilateral transactions. The equilibrium of a standard supply-demand models with entropy-constrained agents is a non-degenerate frequency distribution of transaction prices rather than a single equilibrium price. Changes in behavior temperature can transform social interaction games from prisoners’ dilemmas to assurance games. Entropy-constrained quantal responses allow quantitative inferences about payoff changes and distribution stronger than qualitative Pareto comparisons.

中文翻译:

信息理论与行为

可以将在人类和动物行为的实验和观察中广泛观察到的量化响应行为推导出为预期收益最大化,但要受制于对象行为混合策略的熵。与熵约束相对应的拉格朗日乘数是主体的“行为温度”。熵约束的行为近似于收益最大化的行为,但是在许多情况下表现出质的不同结果。例如,“ end赋效应”和“损失规避”的其他实例可以看作是熵约束行为的结果。对于商品或资产具有相同价值的相同的受熵约束的代理将表现出自发的“噪声交易”。具有较低行为温度的受熵约束的代理将系统地从具有相同评估但在双边交易中具有较高行为温度的代理的经济盈余中夺走代理。具有熵约束主体的标准供求模型的均衡是交易价格的非退化频率分布,而不是单个均衡价格。行为温度的变化可以将社交互动游戏从囚徒困境转变为保证游戏。与定性的帕累托比较相比,熵约束的量化响应允许对收益变化和分布进行定量推断。具有熵约束主体的标准供求模型的均衡是交易价格的非退化频率分布,而不是单个均衡价格。行为温度的变化可以将社交互动游戏从囚徒困境转变为保证游戏。与定性的帕累托比较相比,熵约束的量化响应允许对收益变化和分布进行定量推断。具有熵约束主体的标准供求模型的均衡是交易价格的非退化频率分布,而不是单个均衡价格。行为温度的变化可以将社交互动游戏从囚徒困境转变为保证游戏。与定性的帕累托比较相比,熵约束的量化响应允许对收益变化和分布进行定量推断。
更新日期:2020-07-07
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