Showing 1 - 10 of 500
The infinitely repeated prisoners' dilemma has a multiplicity of Pareto-unranked equilibria. This leads to a battle of the sexes problem of coordinating on a single efficient outcome. One natural method of achieving coordination is for the players to bargain over the set of possible equilibrium...
Persistent link: https://www.econbiz.de/10005417001
The infinitely repeated prisoners' dilemma has a multiplicity of Pareto-unranked equilibria. This leads to a battle of the sexes problem of coordinating on a single efficient outcome. One natural method of achieving coordination is for the players to bargain over the set of possible equilibrium...
Persistent link: https://www.econbiz.de/10010836020
Different kinds of asymmetries between players can occur in core allocations, in that case the stability of the concept is questioned. One remedy consists in selecting robust core allocations. We review, in this note, results that all select core allocations in NTU games with different concepts...
Persistent link: https://www.econbiz.de/10010836262
This paper examines how preference correlation and intercorrelation combine to influence the length of a decentralized matching market's path to stability. In simulated experiments, marriage markets with various preference specifications begin at an arbitrary matching of couples and proceed...
Persistent link: https://www.econbiz.de/10005094611
Different kinds of asymmetries between players can occur in core allocations, in that case the stability of the concept is questioned. One remedy consists in selecting robust core allocations. We review, in this note, results that all select core allocations in NTU games with different concepts...
Persistent link: https://www.econbiz.de/10005094847
The Milgrom-Shannon single crossing property is essential for monotone comparative statics of optimization problems and noncooperative games. This paper formulates conditions for an additively separable objective function to satisfy the single crossing property. One component of the objective...
Persistent link: https://www.econbiz.de/10008483893
The payoff function is defined on the product of the spaces of mixed strategies that are the spaces of probability measures on compact Hausdorff spaces. The continuity of the payoff function is recently proved by Glycopantis and Muir. Here we give an alternative proof that is essentially based...
Persistent link: https://www.econbiz.de/10005181892
In the case of a single net-benefit maximizing agent facing a resource constraint, the economic interpretation of the Lagrange multiplier is that of the shadow value of the constraining resource. The formal justification for this economic interpretation is by way of the classical envelope...
Persistent link: https://www.econbiz.de/10010629289
This paper examines how preference correlation and intercorrelation combine to influence the length of a decentralized matching market's path to stability. In simulated experiments, marriage markets with various preference specifications begin at an arbitrary matching of couples and proceed...
Persistent link: https://www.econbiz.de/10010629336
The payoff function is defined on the product of the spaces of mixed strategies that are the spaces of probability measures on compact Hausdorff spaces. The continuity of the payoff function is recently proved by Glycopantis and Muir. Here we give an alternative proof that is essentially based...
Persistent link: https://www.econbiz.de/10010629941