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Persistent link: https://www.econbiz.de/10005408630
Brown and von Neumann introduced a dynamical system that converges to saddle points of zero sum games with finitely many strategies. Nash used the mapping underlying these dynamics to prove existence of equilibria in general games. The resulting Brown-von Neumann-Nash dynamics are a benchmark...
Persistent link: https://www.econbiz.de/10005408827
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This Note studies the problem of implementing social choice correspondences in environments where individuals have doubts about the rationality of their opponents. We postulate the concept of [epsilon]-minimax regret as our solution concept and show that social choice correspondences that are...
Persistent link: https://www.econbiz.de/10008871322