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The core of an economy consists of those states of the economy which no group of agents (coalition) can "improve upon". A coalition can improve upon a state of the economy if, by using the means available to that group, each member can be made better off. This paper presents the notion of the...
Persistent link: https://www.econbiz.de/10005776554
In this survey article, we report results on the existence of pure-strategy Nash equilibria in games with an atomless …
Persistent link: https://www.econbiz.de/10005776497
elements is deduced and is applied to prove the existence of equilibrium for qualitative games with an infinite number of … agents. The last result is used to establish the existence of equilibrium in generalized games (or abstract economies) with a …
Persistent link: https://www.econbiz.de/10005776505
Persistent link: https://www.econbiz.de/10005776506
The aim of this paper is to present Arrow's theorem and more generally the common framework of many results which can be called "Arrovian theorems". One begins by recalling the Condorcet majority rules, and why they fail: the "effet Condorcet". These rules are examples of preference aggregation...
Persistent link: https://www.econbiz.de/10005776568
We introduce here zero-sum games, which represent the strategic interactions where two agents have totally opposed …
Persistent link: https://www.econbiz.de/10005630659
We introduce here extensive form games which are the most accurate way of describing a strategic situation. We show how … this model finds its place in the hallmark of strategic games. We give a proof of Kuhn's fundamental theorem for games of … concept which fits these games: the sequential equilibrium and prove its existence. …
Persistent link: https://www.econbiz.de/10005630675
In order to get rid of the condition X=Y, we introduce an extension of the Dynkin game by allowing for an extended set of strategies, namely the set of mixed strategies. The main result of the paper is that the extended Dynkin game has a value when the processes X and Y are only restricted to be...
Persistent link: https://www.econbiz.de/10005630681
We consider two-player repeated games with lack of information on one side: first, payoff matrices are chosen according …
Persistent link: https://www.econbiz.de/10005630753
consequences are also derived for strategic market games. …
Persistent link: https://www.econbiz.de/10005475298