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hull of the point set. We also indicate the effect of individual rationality considerations on our results. As most of our …
Persistent link: https://www.econbiz.de/10005463998
Economic theory reduces the concept of rationality to internal consistency. The practice of economics, however …
Persistent link: https://www.econbiz.de/10005762708
This essay offers an exposition of the potential uses of game theoretic reasoning and mathematical models in the study of the prevention of nuclear war.
Persistent link: https://www.econbiz.de/10005249153
Decision theory and game theory are extended to allow for information processing errors. This extended theory is then used to reexamine market speculation and consensus, both when all actions (opinions) are common knowledge and when they may not be. Five axioms of information processing are...
Persistent link: https://www.econbiz.de/10005249171
This paper is devoted to a discussion of several simple experimental games used in a series of lectures on game theory. The prime purpose of these games was to raise questions and illustrate problems in the construction of game theoretical models in the social sciences. The students were asked...
Persistent link: https://www.econbiz.de/10005249181
The central contribution of game theory to defense analysis has been a language for the understanding of how to formulate and study strategic or cross-purposes optimization in situations involving two or more actors. It is suggested here in this discussion that two fundamentally different...
Persistent link: https://www.econbiz.de/10005249231
A broad nontechnical coverage of many of the developments in game theory since the 1950s is given together with some comments on important open problems and where some of the developments may take place. The nearly 90 references given serve only as a minimal guide to the many thousands of books...
Persistent link: https://www.econbiz.de/10009204991
The results are presented from several experiments. They include the selection of points in the core, interpersonal comparisons of utility, and the reconsideration of Stone results on prominence in contrast with symmetry.
Persistent link: https://www.econbiz.de/10005762670
This article deals with experimental games as they pertain to game theory. As such there is a natural distinction between experimentation with abstract games devoted to testing a specific hypothesis in game theory and games with a scenario from a discipline such as economics or political science...
Persistent link: https://www.econbiz.de/10005762705
We derive the existence of a Walras equilibrium directly from Nash's theorem on noncooperative games. No price player is involved, nor are generalized games.
Persistent link: https://www.econbiz.de/10005762752