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A model of coalition government formation is presented in which inefficient, non-minimal winning coalitions may form in Nash equilibrium. Predictions for five games are presented and tested experimentally. The experimental data support potential maximization as a refinement of Nash equilibrium....
Persistent link: https://www.econbiz.de/10004977746
A computational procedure, Simulated Fictitious Play (SFP), is introduced to approximate equilibrium solutions for n-person, non-cooperative games with large strategy spaces. A variant of the iterative solution process fictitious play (FP), SFP is first demonstrated on several small n-person...
Persistent link: https://www.econbiz.de/10005081071