The Nash equilibrium solution concept for games is based on the assumption of expected utility maximization. Reference … two types of loss-aversion equilibrium, a solution concept endogenizing reference points. The two types reflect different … types of updating of reference points during the game. In equilibrium, reference points emerge as expressions of …

the limitations of applying commonly used open loop Nash equilibrium in characterizing equilibrium transfers from parents … behavior within a sequential multi-stage game and use the notion of subgame perfect equilibrium to study the consequences of … optimality of equilibrium allocation. We then examine the role of social security to correct such strategic distortions. …

observe advertisements randomize over the advertised sellers using symmetric mixed strategies. Equilibrium prices and profit …

only expected final equilibrium payoff can be defined by means of selective marginal contributions vectors, and it …

market which theoretically should not converge to Nash equilibrium and one which should converge because of inertia. …

experiments. These automata play against each other in computer tournaments. The risk neutral subgame perfect Nash equilibrium … strategy of the independent private value model serves as a benchmark. The equilibrium strategy does not describe any of the …