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There are several approaches of sharing resources among users. There is a noncooperative approach wherein each user strives to maximize its own utility. The most common optimality notion is then the Nash equilibrium. Nash equilibria are generally Pareto inefficient. On the other hand, we...
Persistent link: https://www.econbiz.de/10010950200
There are several approaches of sharing resources among users. There is a noncooperative approach wherein each user strives to maximize its own utility. The most common optimality notion is then the Nash equilibrium. Nash equilibria are generally Pareto inefficient. On the other hand, we...
Persistent link: https://www.econbiz.de/10010759404
A sufficient and necessary condition is presented for the existence of a Nash equilibrium in n-person noncooperative games in normal form where strategy sets are not necessarily convex. Under the convexity condition, we show that this new sufficient and necessary condition is a particular case...
Persistent link: https://www.econbiz.de/10008477287
This article establishes the prevalence of deterrence over preemption when targeted governments can choose between either policies or employ both. There is a similar proclivity to favor defensive counter-terrorist measures over proactive policies. Unfortunately, this predisposition results in an...
Persistent link: https://www.econbiz.de/10010801739
Fixed point theorems are the standard tool used to prove the existence of equilibria in mathematical economics. This paper shows how to prove a slight generalization of Brouwer's and Kakutani's fixed point theorems using the familiar techniques of drawing and shifting curves in the plane and is,...
Persistent link: https://www.econbiz.de/10005607526
In this paper we consider the location of the eigenvalues of the composite matrix ( -A S1 S2 ) ( Q1 At 0 ) ( Q2 0 At ) , where the matrices Si and Qi are assumed to be semi-positive definite. Two interesting observations, which are not or only partially mentioned in literature before, challenge...
Persistent link: https://www.econbiz.de/10011087121
In this paper we characterize the subgame perfect Nash equilibria of a location-then-price game where firms first choose locations and after that compete for prices in two subsequent periods. Locations are thus seen as long term commitments. There are two types of consumers, each with different...
Persistent link: https://www.econbiz.de/10011087127
The objective of the third edition of <i>Game Theory: A Nontechnical Introduction to the Analysis of Strategy</i> is to … introduce the ideas of game theory in a way that is approachable, intuitive, and interdisciplinary. Relying on the Karplus …</li> <li>Three-Person Games</li> <li>Probability and Game Theory</li> <li>Mixed Strategy Nash Equilibria</li> <li …
Persistent link: https://www.econbiz.de/10011156401
The article shows how Jean-Francois Mertens contributed to the development of game theory and microeconomics as we know …
Persistent link: https://www.econbiz.de/10011074149
papers are part of a program to reconstruct game theory in order to make how players reason about a game a central feature of … the theory. The program — now called epistemic game theory — extends the classical definition of a game model to include … implications of how players reason for how a game is played. Epistemic game theory includes traditional equilibrium-based theory as …
Persistent link: https://www.econbiz.de/10011010976