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An adaptive model of demand adjustment in weighted majority games
Montero, María; Possajennikov, Alexandre - In: Games 13 (2022) 1, pp. 1-17
This paper presents a simple adaptive model of demand adjustment in cooperative games and analyzes this model in weighted majority games. In the model, a randomly chosen player sets her demand to the highest possible value subject to the demands of other coalition members being satisfied. This...
Persistent link: https://www.econbiz.de/10013171812
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Ideal reactive equilibrium
Sadanand, Asha B. - In: Games 10 (2019) 2/19, pp. 1-18
Refinements of the Nash equilibrium have followed the strategy of extending the idea of subgame perfection to incomplete information games. This has been achieved by appropriately restricting beliefs at unreached information sets. Each new refinement gives stricter and more...
Persistent link: https://www.econbiz.de/10012061941
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Example of a finite game with no Berge equilibria at all
Pykacz, Jarosław; Bytner, Paweł; Frąckiewicz, Piotr - In: Games 10 (2019) 1/7, pp. 1-4
The problem of the existence of Berge equilibria in the sense of Zhukovskii in normal-form finite games in pure and in mixed strategies is studied. The example of a three-player game that has Berge equilibrium neither in pure, nor in mixed strategies is given.
Persistent link: https://www.econbiz.de/10012015714
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On adaptive heuristics that converge to correlated equilibrium
Bhattacharya, Ayan - In: Games 10 (2019) 1/6, pp. 11
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
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Buying optimal payoffs in bi-matrix games
Gupta, Anshul; Schewe, Sven - In: Games 9 (2018) 3/40, pp. 1-36
paying some of her own utility to the follower for assigning a particular strategy profile. Besides assuming that the …
Persistent link: https://www.econbiz.de/10011891212
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Exploring the gap between perfect Bayesian equilibrium and sequential equilibrium
Bonanno, Giacomo - In: Games 7 (2016) 4, pp. 1-23
In (Bonanno, 2013), a solution concept for extensive-form games, called perfect Bayesian equilibrium (PBE), was introduced and shown to be a strict refinement of subgame-perfect equilibrium; it was also shown that, in turn, sequential equilibrium (SE) is a strict refinement of PBE. In (Bonanno,...
Persistent link: https://www.econbiz.de/10011620502
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Valuable cheap talk and equilibrium selection
Jamison, Julian C. - In: Games 11 (2020) 3/34, pp. 1-14
Intuitively, we expect that players who are allowed to engage in costless communication before playing a game would be foolish to agree on an inefficient outcome amongst the set of equilibria. At the same time, however, such preplay communication has been suggested as a rationale for expecting...
Persistent link: https://www.econbiz.de/10012432175
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Cournot's oligopoly equilibrium under different expectations and differentiated production
Grisáková, Nora; Štetka, Peter - In: Games 13 (2022) 6, pp. 1-17
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
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Stackelberg social equilibrium in water markets
Houba, Harold; Tomori, Françeska - In: Games 14 (2023) 4, pp. 1-9
Market power in water markets can be modeled as simultaneous quantity competition on a river structure and analyzed by applying social equilibrium. In an example of a duopoly water market, we argue that the lack of backward induction logic implies that the upstream supplier foregoes profitable...
Persistent link: https://www.econbiz.de/10014426327
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Random rank-dependent expected utility
Kashaev, Nail; Aguiar, Victor H. - In: Games 13 (2022) 1, pp. 1-10
We present a novel characterization of random rank-dependent expected utility for finite datasets and finite prizes. As … a byproduct, we obtain a characterization of random expected utility that works for finite datasets. The test lends … itself to statistical testing. We apply our test to an experimental dataset and find evidence against random expected utility …
Persistent link: https://www.econbiz.de/10013172016