Preprint Article Version 1 This version is not peer-reviewed

On Games and Cost of Change

Version 1 : Received: 30 April 2018 / Approved: 2 May 2018 / Online: 2 May 2018 (11:43:36 CEST)

How to cite: Flåm, S.D. On Games and Cost of Change. Preprints 2018, 2018050025 (doi: 10.20944/preprints201805.0025.v1). Flåm, S.D. On Games and Cost of Change. Preprints 2018, 2018050025 (doi: 10.20944/preprints201805.0025.v1).

Abstract

Many mathematical models of strategic play or better choice overlook adjustment costs. Rather often, the modeler's concern is just with improvement of objectives. This optic doesn't quite fit agents somewhat attached to status quo. They reason whether moving to another state be worth their while. For that, the realized gains must outweigh the inconveniences of the move. This note offers some observations on the fact that change usually entails cost.

Subject Areas

adjustment costs; proximal methods; stationary states; games; equilibria

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