Concepts inPlaying the Wrong Game: Smoothness Bounds for Congestion Games with Behavioral Biases

Game theory

Game theory is the study of strategic decision making. More formally, it is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers. " An alternative term suggested "as a more descriptive name for the discipline" is interactive decision theory. Game theory is mainly used in economics, political science, and psychology, as well as logic and biology.  more from Wikipedia

Congestion game

Congestion games are a class of games in game theory first proposed by Rosenthal in 1973. In a Congestion game we define players and resources, where the payoff of each player depends on the resources it chooses and the number of players choosing the same resource. Congestion games are a special case of potential games.  more from Wikipedia

Behavioral economics

Behavioral economics and the related field, behavioral finance, study the effects of social, cognitive and emotional factors on the economic decisions of individuals and institutions and the consequences for market prices, returns and the resource allocation. The fields are primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology with neo-classical economic theory.  more from Wikipedia

Cognitive bias

A cognitive bias is a pattern of deviation in judgment that occurs in particular situations, leading to perceptual distortion, inaccurate judgment, illogical interpretation, or what is broadly called irrationality. Implicit in the concept of a "pattern of deviation" is a standard of comparison with what is normatively expected; this may be the judgment of people outside those particular situations, or may be a set of independently verifiable facts.  more from Wikipedia

Risk aversion

Risk aversion is a concept in psychology, economics, and finance, based on the behavior of humans while exposed to uncertainty. Risk aversion is the reluctance of a person to accept a bargain with an uncertain payoff rather than another bargain with a more certain, but possibly lower, expected payoff.  more from Wikipedia

Price of anarchy

The Price of Anarchy (PoA) is a concept in game theory that measures how the efficiency of a system degrades due to selfish behavior of its agents. It is a general notion that can be extended to diverse systems and notions of efficiency. For example, consider the system of transportation of a city and many agents trying to go from some initial location to a destination. Let efficiency in this case mean the average time for an agent to reach the destination.  more from Wikipedia

Utility

In economics, utility is a representation of preferences over some set of goods and services. Preferences have a utility representation so long as they are transitive, complete, and continuous. Utility is usually applied by economists in such constructs as the indifference curve, which plot the combination of commodities that an individual or a society would accept to maintain a given level of satisfaction.  more from Wikipedia

Atom (measure theory)

In mathematics, more precisely in measure theory, an atom is a measurable set which has positive measure and contains no set of smaller but positive measure. A measure which has no atoms is called non-atomic or atomless.  more from Wikipedia