We introduce a model of a cyclic game. Designed to take advatange of the recurring nature of certain economic and social situations, a cyclic game differs from an extensive form game in that a cyclic game does not necessarily have an end. The same situations, although with different players may...

In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to the behavior of similar individuals. A fundamental question is whether the outcome of such behavior can be consistent with self-interest. We propose that this consistency...

In the literature of psychology and economics it is frequently observed that individuals tend to conform in their behavior to that of similar individuals. A fundamental question is whether the outcome of such conformity can be consistent with self-interest. We propose that this consistency...