HOPF bifurcation in the informational nudging of boundedly rational decision makers

Yijie Cheng, Cedric Langbort

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Two alternatives decision making task has been studied by psychologists for decades. In this paper, we consider the problem from a control theoretical point of view where a boundedly rational decision maker repeatedly responds to a strategic revelation of information. Dynamical properties of our previously proposed model are analyzed, and stability result is improved by connecting to a larger set of parameters. We show that an arbitrary mixed-strategy equilibrium point can be created and stabilized if the chosen equilibrium point itself, together with the decision maker's personality and total budget for information provision, meet certain conditions; otherwise, a limit cycle will appear, featuring the occurrence of a Hopf bifurcation in the system.

Original languageEnglish (US)
Title of host publication2019 American Control Conference, ACC 2019
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages5761-5766
Number of pages6
ISBN (Electronic)9781538679265
DOIs
StatePublished - Jul 2019
Event2019 American Control Conference, ACC 2019 - Philadelphia, United States
Duration: Jul 10 2019Jul 12 2019

Publication series

NameProceedings of the American Control Conference
Volume2019-July
ISSN (Print)0743-1619

Conference

Conference2019 American Control Conference, ACC 2019
CountryUnited States
CityPhiladelphia
Period7/10/197/12/19

ASJC Scopus subject areas

  • Electrical and Electronic Engineering

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  • Cite this

    Cheng, Y., & Langbort, C. (2019). HOPF bifurcation in the informational nudging of boundedly rational decision makers. In 2019 American Control Conference, ACC 2019 (pp. 5761-5766). [8815198] (Proceedings of the American Control Conference; Vol. 2019-July). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.23919/acc.2019.8815198