2024-03-29T08:55:28Zhttps://eprints.lib.hokudai.ac.jp/dspace-oai/requestoai:eprints.lib.hokudai.ac.jp:2115/84752022-11-17T02:08:08Zhdl_2115_8473hdl_2115_8472hdl_2115_123A Game-Theoretical Approach to the Formation of Ethical NormsMachino, Kazuo331.19This essay shows the formation of the ethical-norms analytically by modeling them with a Bayesian game played by bounded-rational players. They are bounded-rational in the sense that they have limited memory. The players’ limited memory makes them forget other choices they had and think their relatively successful choice a convention. Deviation from it causes payoff decrease, thus, creates an incentive to penalize the deviator. Finally, reinforcement mechanism of repeating penalty makes the socially beneficial but personally costly convention an ethical norm.Graduate School of Economics and Business Administration, Hokkaido UniversityDepartmental Bulletin Paperapplication/pdfhttp://hdl.handle.net/2115/8475https://eprints.lib.hokudai.ac.jp/dspace/bitstream/2115/8475/1/DP_A_157%28Machino%29.pdfDiscussion Paper, Series A1571132005-12engpublisher