Showing 1 - 10 of 126
A profit-maximizing auctioneer can provide a public good to a group of agents. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides the good to the group, only if the sum of their bids exceeds a reserve...
Persistent link: https://www.econbiz.de/10005118539
We examine a new class of games, which we call social games, where players not only choose strategies but also choose … players in different roles, among other things. We also examine finite repetitions of games where players may choose to … rematch in any period. Some equilibria of fixed-player repeated games cannot be sustained as equilibria in a repeated social …
Persistent link: https://www.econbiz.de/10005062336
Bertrand oligopoly games, and mixed strategies. …
Persistent link: https://www.econbiz.de/10005407530
Cooperative and noncooperative games have no representation of players's basis utilities. Basis utility is the natural … bargaining games with basis utility. Characterization of the Nash (1950) bargaining solution requires the assumption of the … irrelevance of basis utility in games with basis utility. All existing cooperative solution functions become translation invariant …
Persistent link: https://www.econbiz.de/10005407599
differential equation has recently been suggested as a plausible boundedly rational learning process in games. In the current paper …
Persistent link: https://www.econbiz.de/10005062331
. Evolutionary robustness ensures dynamic stability for replicator dynamics in doubly symmetric games. …
Persistent link: https://www.econbiz.de/10005550865
This paper consider the dynamic evolution of algorithmic (recursive) learning rules in a normal form game. It is shown that the system - the population frequencies - is globally stable for any arbitrary N-player normal form game, if the evolutionary process is algorithmic and the `birth process'...
Persistent link: https://www.econbiz.de/10005550961
Due to the externalities, in normal form games a deviation changes the payoff of all players inducing a retaliation by …
Persistent link: https://www.econbiz.de/10005118659
We incorporate information measures representing knowledge into an evolutionary model of coevolving firms and markets whereby the growing orderliness of firms potentiates a predictable progression of market exchange innovations which themselves become beneficial only with the growing orderliness...
Persistent link: https://www.econbiz.de/10005118538
In this paper the random order approach to values of non-atomic games is reformulated by generating random orders from …\Theta$-symmetric random order value exists for most games in BV and it coincides with the fully symmetric Aumann-Shapley axiomatic value on …-Shapley Impossibility Principle for the random order approach to values of non-atomic games. …
Persistent link: https://www.econbiz.de/10005407568