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This paper provides a comprehensive theoretical model of the political decision making process. Therein two ideologically different political parties compete for power. Their primary instrument in this competition are programmatic concessions in favor of voters and interest groups. As any...
Persistent link: https://www.econbiz.de/10008564779
This article focuses on the strategic interaction between a terrorist group and a government as both vie for grassroots support. When terrorists and the government act contemporaneously, the equilibrium outcome depends on the effectiveness of the government’s countermeasures and the...
Persistent link: https://www.econbiz.de/10011136289
This note examines how the second chance, when provided to a disadvantaged player, can resolve the prisoner’s dilemma.
Persistent link: https://www.econbiz.de/10011107394
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
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
We extend Aumann's theorem [Aumann 1987], deriving correlated equilibria as a consequence of common priors and common knowledge of rationality, by explicitly allowing for non-rational behavior. We replace the assumption of common knowledge of rationality with a substantially weaker one, joint...
Persistent link: https://www.econbiz.de/10010851330
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
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
This paper examines a multi-player and multi-front Colonel Blotto game in which one player, A, simultaneously competes in two disjoint Colonel Blotto games, against two separate opponents, 1 and 2. Prior to competing in the games, players 1 and 2 have the opportunity to form an alliance to share...
Persistent link: https://www.econbiz.de/10009367901
In game theory, players have continuous expected payoff functions and can use fixed point theorems to locate equilibria … significant implications for economics, artificial intelligence, complex system theory, neurobiology, and biological evolution and …
Persistent link: https://www.econbiz.de/10005837506