consensus value is discussed.Finally, two applications of the consensus value are given: one is for oligopoly games in partition …

This paper surveys some recent developments in (non-cooperative) game theory and provides an outlook on the near future … of that theory. In particular, attention is focused on the limitations inherent in normative game theory and on attempts … to construct a behavioral version of the theory that incorporates aspects of procedural and bounded rationality. It is …

noted. Conventional theory focuses on the<br/>question ‘how will rational players play?’, and has the Nash equilibrium at …) and relaxations (rationalizability and correlated equilibria).<br/>Motivated by experiments that show systematic theory … violations, behavioral game<br/>theory aims to integrate insights from psychology to get better answers to the<br/>question ‘how …