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In this paper we study the endogenous formation of cooperation structures or communication graphs between players in a superadditive TU game. For each cooperation structure that is formed, the payoffs to the players are determined by an exogenously given solution. We model the process of...
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Although a mixed strategy can never be evolutionarily stable in a truly asymmetric contest, examples show that mixed strategies can satisfy the weaker criterion on neutral stability. This paper shows that such examples are rare, and, generically, a mixed strategy is unstable. We apply the result...
Persistent link: https://www.econbiz.de/10011091518
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 …
Persistent link: https://www.econbiz.de/10011092171
This paper considers a refinement of equilibria for multicriteria games based on the perfectness concept of Selten (1975). Existence of perfect equilibrium points is shown and several characterizations are provided. Furthermore, contrary to the result for equilibria for multicriteria games, an...
Persistent link: https://www.econbiz.de/10011092242
We develop an evolutionary approach to explain altruistic preferences. Given their preferences, individuals interact rationally with each other. By comparing the success of players with different preferences, we investigate whether evolution favors altruistic or selfish attitudes. The outcome...
Persistent link: https://www.econbiz.de/10011092487
This paper analyzes wage structures in the public and the private sector for Germany. The data contains a rich set of variables on parents' characteristics that we use as instruments. We extend the empirical literature in this field by endogenizing education level and hours worked, and by using...
Persistent link: https://www.econbiz.de/10011091488
Preferences of a set of n individuals over a set of alternatives can be represented by a preference profile being an n-tuple of preference relations over these alternatives.A social choice correspondence assigns to every preference profile a subset of alternatives that can be viewed as the `most...
Persistent link: https://www.econbiz.de/10011092117
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