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-)payoff function that depends on the play generated. As with all games, the equilibria that could arise may have undesirable properties …. However, as system designers, we typically wish to ensure that equilibria in such systems correspond to desirable system … equilibria that satisfy a given ω-regular specification in a multi-player mean-payoff game in a number of computationally …
Persistent link: https://www.econbiz.de/10013200175
different types of bankruptcy law and demonstrates that equilibria exhibit the sought-after feature of complementarity. Three … of complementarity. Thus, complementarity seems to be an essential feature of financial systems. Intuitively speaking …, complementarity exists if the elements of a (financial) system reinforce each other in terms of contributing to the functioning of the …
Persistent link: https://www.econbiz.de/10010316267
We apply the dynamic stochastic framework proposed by recent evolutionaryliterature to the class of strict supermodular games when two simplebehavior rules coexist in the population, imitation and myopic optimization. We assume that myopic optimizers are able to see how well their payoff...
Persistent link: https://www.econbiz.de/10010324637
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/10010335972
types of traders and two commodities. It shows that interior equilibria exist, studies the example of CES utility functions … to uncover the relation between the complementarity of products in the utility functions and the shape of the reaction … different markets, they never choose to specialize and all equilibria are equivalent to an equilibrium where all agents trade on …
Persistent link: https://www.econbiz.de/10011608523
the number of agents is sufficiently small, multiple equilibria can arise. Depending on how the prize money is split over … high-prize tournament, while low-ability agents compete for the low prize. However, there are also equilibria in which …
Persistent link: https://www.econbiz.de/10010274585
Persistent link: https://www.econbiz.de/10010275582
In (Viossat, 2006, The replicator dynamics does not lead to correlated equilibria, forthcoming in Games and Economic …
Persistent link: https://www.econbiz.de/10010281341
This article surveys studies on universally balanced properties of cooperative games defined in a succinct form. In particular, we focus on combinatorial optimization games in which the values to coalitions are defined through linear optimization programs, possibly combinatorial, that is subject...
Persistent link: https://www.econbiz.de/10010369427
, and information on behavioral choices and determined the equilibria. We observed that the participants' risk attitudes …
Persistent link: https://www.econbiz.de/10010291803