Showing 1 - 10 of 533
I study the path properties of adaptive heuristics that mimic the natural dynamics of play in a game and converge to the set of correlated equilibria. Despite their apparent differences, I show that these heuristics have an abstract representation as a sequence of probability distributions that...
Persistent link: https://www.econbiz.de/10012015733
I consider a class of dynamic Bayesian games in which types evolve stochastically according to a first-order Markov process on a continuous type space. Types are privately informed, but they become public together with actions when payoffs are obtained, resulting in a delayed information...
Persistent link: https://www.econbiz.de/10015271402
We consider non-zero sum bi-matrix games where one player presumes the role of a leader in the Stackelberg model, while the other player is her follower. We show that the leader can improve her reward if she can incentivise her follower by paying some of her own utility to the follower for...
Persistent link: https://www.econbiz.de/10011891212
that differs from the mixed strategy Nash equilibrium and is evolutionarily stable. For this to occur, the correlation … players who follow their own correlated signals. The critical quality of the correlation device is to make this true both for …
Persistent link: https://www.econbiz.de/10014426258
We study the solution concepts of partial cooperative Cournot-Nash equilibria and partial cooperative Stackelberg equilibria. The partial cooperative Cournot-Nash equilibrium is axiomatically characterized by using notions of rationality, consistency and converse consistency with regard to...
Persistent link: https://www.econbiz.de/10009751965
Agency may be exercised by different entities (e.g., individuals, firms, households). A given individual can form part of multiple agents (e.g., he may belong to a firm and a household). The set of agents that act in a given situation might not be common knowledge. We adapt the standard model of...
Persistent link: https://www.econbiz.de/10012015531
We study network formation with n players and link cost α 0. After the network is built, an adversary randomly deletes one link according to a certain probability distribution. Cost for player ν incorporates the expected number of players to which ν will become disconnected. We focus on...
Persistent link: https://www.econbiz.de/10009752420
the class share equilibria. If a Bayesian game in the class also satisfies a weak efficiency condition, then we show its …
Persistent link: https://www.econbiz.de/10014636250
The literature on strategic ambiguity in classical games provides generalized notions of equilibrium in which each player best responds to ambiguous or imprecise beliefs about his opponents' strategic choices. In a recent paper, strategic ambiguity has been extended to psychological games, by...
Persistent link: https://www.econbiz.de/10015075934
The subject of this study is an oligopolistic market in which three firms operate in an environment of quantitative competition known as the Cournot oligopoly model. Firms and their production are differentiated, which brings the theoretical model closer to real market conditions. The main...
Persistent link: https://www.econbiz.de/10014418202