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Games with incomplete information or randomness in the moves of others typically have many decision …
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We offer a selected survey of the uses of game theory in the analysis of law.
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A cornerstone of game theory is backward induction, whereby players reason backward from the end of a game in extensive form to the beginning in order to determine what choices are rational at each stage of play. Truels, or three-person duels, are used to illustrate how the outcome can depend on...
Persistent link: https://www.econbiz.de/10005605739
This paper makes two points. First, the modeling used in the rational (or Bayesian) learning literature can be generalized to handle the repeated shocks to preferences inherent and implicit in models of quantal response equilibria (QRE). In particular, we note that the Bayesian model and the QRE...
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The Lorenz-Pareto Optimal Frontier of a collective choice problem indentifies a (usually quite large) subset of all Pareto optimal outcomes which are not inegalitarian according to the Lorenz criterion. We study the basic properties of Lorenz-Pareto optimal choice functions and in particular...
Persistent link: https://www.econbiz.de/10005826798
This paper studies the conditions under which the basic results of the re vealed preference theory can be established on the domain of choice problems which include non-convex feasible sets, the exercice is closely related to the works of Peters and Wakker (1991) and Bossert (1994).
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