Showing 1 - 10 of 125
The article shows how Jean-Francois Mertens contributed to the development of game theory and microeconomics as we know them today. Along with about 80 articles, Mertens's topics go from the formulation of Bayesian decision making in games with incomplete information to the foundations of cost...
Persistent link: https://www.econbiz.de/10011074149
). We prove that any n-player stochastic game admits an autonomous correlated equilibrium payoff. When the game is positive … and recursive, a stationary correlated equilibrium payoff exists. …
Persistent link: https://www.econbiz.de/10010861535
We show on a 4x4 example that many dynamics may eliminate all strategies used in correlated equilibria, and this for an open set of games. This holds for the best-response dynamics, the Brown-von Neumann-Nash dynamics and any monotonic or weakly sign-preserving dynamics satisfying some standard...
Persistent link: https://www.econbiz.de/10010905338
This note establishes that in every 3-3 symmetric game, the replicator dynamics eliminates all strategies that are never used in correlated equilibrium. This extends to the best-response dynamics and to any convex monotonic dynamics. The proof is based on dual reduction.
Persistent link: https://www.econbiz.de/10010706397
Persistent link: https://www.econbiz.de/10010706455
We study a two-person zero-sum game where players simultaneously choose sequences of actions, and the overall payoff is … the average of a one-shot payoff over the joint sequence. We consider the maxmin value of the game played in pure …
Persistent link: https://www.econbiz.de/10010707790
concerns the existence, for any payoff function, of a particular equilibrium (called completely revealing) allowing each player …
Persistent link: https://www.econbiz.de/10010708402
communication equilibrium payoff. …
Persistent link: https://www.econbiz.de/10010708769
We show that essentially every communication equilibrium of any finite Bayesian game with two players can be implemented as a strategic form correlated equilibrium of an extended game, in which before choosing actions as in the Bayesian game, the players engage in a possibly fin nitely long (but...
Persistent link: https://www.econbiz.de/10010708889
Afriat proved the equivalence of a variant of the strong axiom of revealed preference and the existence of a solution to a set of linear inequalities. From this solution he constructed a utility function rationalizing the choices of a competitive consumer. We extend Afriat's theorem to a class...
Persistent link: https://www.econbiz.de/10010706621