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Static stability of equilibrium in strategic games differs from dynamic stability in not being linked to any particular dynamical system. In other words, it does not make any assumptions about off-equilibrium behavior. Examples of static notions of stability include evolutionarily stable...
Persistent link: https://www.econbiz.de/10008626031
Players in a congestion game may differ from one another in their intrinsic preferences (e.g., the benefit they get from using a specific resource), their contribution to congestion, or both. In many cases of interest, intrinsic preferences and the negative effect of congestion are (additively...
Persistent link: https://www.econbiz.de/10008626042
The equilibrium outcome of a strategic interaction between two or more people may depend on the weight they place on each other’s payoff. A positive, negative or zero weight represents altruism, spite or complete selfishness, respectively. Paradoxically, the real, material payoff in...
Persistent link: https://www.econbiz.de/10008626046
Equilibrium flow in a physical network with a large number of users (e.g., transportation, communication, and computer networks) may not be unique if the costs of the network elements are not the same for all uses. Such differences among users may arise if they are not equally affected by...
Persistent link: https://www.econbiz.de/10010861923
A group of people with identical preferences but different abilities in identifying the best alternative (e.g., a jury) takes a vote to decide between two alternatives. The first best voting rule is a weighted voting rule that takes into account the different individual competences, and is...
Persistent link: https://www.econbiz.de/10010861930
In a number of large, important families of finite games, not only do pure-strategy Nash equilibria always exist but they are also reachable from any initial strategy profile by some sequence of myopic single-player moves to a better or best-response strategy. This weak acyclicity property is...
Persistent link: https://www.econbiz.de/10010942384
In a correlated equilibrium, the players’ choice of actions is affected by random, correlated messages that they receive from an outside source, or mechanism. This allows for more equilibrium outcomes than without such messages (pure-strategy equilibrium) or with statistically independent ones...
Persistent link: https://www.econbiz.de/10008516091
Every finite noncooperative game can be presented as a weighted network congestion game, and also as a network congestion game with player-specific costs. In the first presentation, different players may contribute differently to congestion, and in the second, they are differently (negatively)...
Persistent link: https://www.econbiz.de/10008526367
No matter how many times a prisoner’s-dilemma-like game is repeated, the only equilibrium outcome is the one in which all players defect in all periods. However, if cooperation among the players changes their perception of the game by making defection increasingly less attractive, then it is...
Persistent link: https://www.econbiz.de/10008553032
A formula is presented for computing the completely mixed equilibrium payoffs in finite two-person games.
Persistent link: https://www.econbiz.de/10008553038