Regensburg 2016 – scientific programme

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SOE: Fachverband Physik sozio-ökonomischer Systeme

SOE 13: Economic Models I

SOE 13.3: Talk

Wednesday, March 9, 2016, 10:45–11:00, H36

A prisoners dilemma model with continous time and continous decision space — •Erhard Gloetzl — Karl-Kautsky-Weg 26, 4040 Linz Österreich

Recently in close analogy to constrained dynamics in classical mechanics *General Constrained Dynamic Models* (GCD-models) were introduced as general framework for economic models. A lot of economic models can be understood as special cases of GCD-models. We show that even game theoretical models can be understood as discretisation of GCD-models. Especially we discuss a *continuous prisoners dilemma* with continuous time and continuous decision space which yields the standard prisoner dilemma by discretisation of time and discretisation of decision space (cooperation, defection). An essential feature of GCD-models are so called *power factors* which correlate more or less to the inverse of the inertial mass. We discuss the introduction of power factors to the prisoners dilemma and the application of this model to political economy. Further extensions to other game theoretical models are discussed.