How to play randomly without random generator – the case of maximin players. Homo Oeconom

Abstract Lacking a random generator, players who intend to use their pure strategies randomly must rely on their short-term memory. Since memory capacity is seriously limited such players are prone to alternate strategies too frequently and predictability which makes them vulnerable to exploitation by other players. In our elementary evolutionary analysis of “pseudo-random ” play, we study the evolution of memory capacity, its use to predict the behavior of others and to generate own unpredictability. JEL Classification C70, D8