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This paper formulates the classic Monty Hall problem as a Bayesian game. Allowing Monty a small amount of freedom in his decisions facilitates a variety of solutions. The solution concept used is the Bayes Nash Equilibrium (BNE), and the set of BNE relies on Monty’s motives and incentives. We...
Persistent link: https://www.econbiz.de/10011709265
Game-theoretic models are a convenient tool to systematically analyze competitive situations. This makes them particularly handy in the field of security where a company or a critical infrastructure wants to defend against an attacker. When the optimal solution of the security game involves...
Persistent link: https://www.econbiz.de/10011891029
In unrestricted combinatorial auctions, we put forward a mechanism that guarantees a meaningful revenue benchmark based on the possibilistic beliefs that the players have about each other’s valuations. In essence, the mechanism guarantees, within a factor of two, the maximum revenue that the...
Persistent link: https://www.econbiz.de/10011550604
We survey the results on representations of committees and constitutions by game forms that possess some kind of equilibrium strategies for each profile of preferences of the players. The survey is restricted to discrete models, that is, we deal with finitely many players and alternatives. No...
Persistent link: https://www.econbiz.de/10011771308
Algorithms for equilibrium computation generally make no attempt to ensure that the computed strategies are understandable by humans. For instance the strategies for the strongest poker agents are represented as massive binary files. In many situations, we would like to compute strategies that...
Persistent link: https://www.econbiz.de/10011771259
Two deviations of alternating-offer bargaining behavior from economic theory are observed together, yet have been studied separately. Players who could secure themselves a large surplus share if bargainers were purely self-interested incompletely exploit their advantage. Delay in agreement...
Persistent link: https://www.econbiz.de/10009754119
Successful algorithms have been developed for computing Nash equilibrium in a variety of finite game classes. However, solving continuous games - in which the pure strategy space is (potentially uncountably) infinite - is far more challenging. Nonetheless, many real-world domains have continuous...
Persistent link: https://www.econbiz.de/10012547788
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
I introduce axiomatically infinite sequential games that extend Kuhn’s classical framework. Infinite games allow for (a) imperfect information, (b) an infinite horizon, and (c) infinite action sets. A generalized backward induction (GBI) procedure is defined for all such games over the roots...
Persistent link: https://www.econbiz.de/10012062309
This paper considers a population of agents that are engaged in a listening network. The agents wish to match their actions to the true value of some uncertain (exogenous) parameter and to the actions of the other agents. Each agent begins with some initial information about the parameter and,...
Persistent link: https://www.econbiz.de/10011621465